MSCI

In 1968, Capital International published indices covering the global stock market for non-U.S. markets. In 1986, Morgan Stanley licensed the rights to the indices from Capital International and branded the indices as the Morgan Stanley Capital International (MSCI) indices.{{cite book |first1=Frank J. |last1=Fabozzi |first2=Harry M. |last2=Markowitz |date=November 25, 2002 |url=https://books.google.com/books?id=McX0M0eoxLwC&pg=PA160 |publisher=160 |title=The Theory and Practice of Investment Management |isbn=9780471445654 |access-date=September 4, 2017 |archive-url=https://web.archive.org/web/20200124221236/https://books.google.com/books?id=McX0M0eoxLwC&pg=PA160 |archive-date=January 24, 2020 |url-status=live }} By the 1980s, the MSCI indices were the primary benchmark indices outside of the U.S. before being joined by FTSE, Citibank, and Standard & Poor's.{{cite book |last=Gastineau |first=Gary L. |date=February 14, 2002 |title=The Exchange-Traded Funds Manual |url=https://books.google.com/books?id=CIYoyIrP6cIC&pg=PA35 |access-date=November 18, 2015 |publisher=John Wiley & Sons |isbn=9780471218944 |pages=35 }} After Dow Jones started float weighting its index funds, MSCI followed. In 2004, MSCI acquired Barra, Inc., to form MSCI Barra.{{cite book |url=https://books.google.com/books?id=pTgSRklESDUC&pg=PT94 |page=94 |title=ETFs for the Long Run: What They Are, How They Work, and Simple Strategies |author=Lawrence Carrel |publisher=John Wiley |isbn=9780470437667 |date=September 16, 2008 |access-date=September 4, 2017 |archive-url=https://web.archive.org/web/20200124221238/https://books.google.com/books?id=pTgSRklESDUC&pg=PT94 |archive-date=January 24, 2020 |url-status=live }} In mid-2007, parent company Morgan Stanley decided to divest MSCI.{{cite web|url=http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20070731/REG/70731007/-1/INDaily01|title=Morgan to take MSCI public|work=Investment News|access-date=May 23, 2020|archive-url=https://web.archive.org/web/20090822233103/http://www.investmentnews.com/apps/pbcs.dll/article?AID=%2F20070731%2FREG%2F70731007%2F-1%2FINDaily01|archive-date=August 22, 2009|url-status=live}} This was followed by an initial public offering of a minority of stock in November 2007.{{cite web |url=http://seekingalpha.com/article/47322-msci-barra-spinoff-provides-look-at-indexers-inner-workings |publisher=Seeking Alpha |title=MSCI Barra Spinoff Provides Look At Indexers' Inner Workings |date=September 17, 2007 |access-date=May 1, 2016 |archive-url=https://web.archive.org/web/20161124174754/http://seekingalpha.com/article/47322-msci-barra-spinoff-provides-look-at-indexers-inner-workings |archive-date=November 24, 2016 |url-status=live }} The divestment was completed in 2009.{{cite web |url=http://ir.msci.com/faq.cfm |title=FAQ |publisher=MSCI, Inc. |archive-url=https://web.archive.org/web/20180714145235/http://ir.msci.com/faq.cfm |archive-date=July 14, 2018 }} The company is headquartered in New York City.{{cite news |url=https://www.bloomberg.com/news/articles/2016-04-29/frontier-vietnam-eyes-promotion-to-emerging-market-big-leagues |publisher=Bloomberg |date=April 28, 2016 |title=Frontier Vietnam Eyes Step Up to Emerging-Market Big Leagues |author=Giang Nguyen |access-date=March 8, 2017 |archive-url=https://web.archive.org/web/20190706091001/https://www.bloomberg.com/news/articles/2016-04-29/frontier-vietnam-eyes-promotion-to-emerging-market-big-leagues |archive-date=July 6, 2019 |url-status=live }}

Some companies in MSCI's peer group include Glass Lewis, Factset, Sovereign Wealth Fund Institute, and S&P.

In 2010 MSCI acquired RiskMetrics Group, Inc.{{cite news |last=Luchetti |first=Aaron |title=MSCI Seizes RiskMetrics in Union of Niche Firms |publisher=Wall Street Journal |date=March 2, 2010 |url= https://www.wsj.com/articles/SB10001424052748704754604575095100547835756 |access-date=March 8, 2017 |archive-url=https://web.archive.org/web/20181230205447/https://www.wsj.com/articles/SB10001424052748704754604575095100547835756 |archive-date=December 30, 2018 |url-status=live }} and Measurisk.{{cite web |title=MSCI Scores Measurisk From JPMorgan |work=Forbes |date=July 15, 2010 |url= https://www.forbes.com/2010/07/15/msci-buys-jpmorgans-measurisk-marketnewsvideo.html |access-date=September 4, 2017 |archive-url=https://web.archive.org/web/20180213080956/https://www.forbes.com/2010/07/15/msci-buys-jpmorgans-measurisk-marketnewsvideo.html |archive-date=February 13, 2018 |url-status=live }}

In 2012 MSCI acquired Investment Property Databank.[http://realestate.ipe.com/news/people/people-moves-ipd-co-founder-former-ceo-leave-msci/10011971.fullarticle "People moves: IPD co-founder, former CEO leave MSCI"] {{Webarchive|url=https://web.archive.org/web/20161215121057/https://realestate.ipe.com/news/people/people-moves-ipd-co-founder-former-ceo-leave-msci/10011971.fullarticle |date=December 15, 2016 }}, realestate.ipe.com, February 18, 2016.

In 2013, MSCI acquired Investor Force from ICG Group (formerly Internet Capital Group).{{cite web |last=Lozada |first=Aaron |title=MSCI completes acquisition of Investor Force |work=SNL News |publisher=SNL Financial LC |url= http://www.snl.com/InteractiveX/article.aspx?ID=16864989&KPLT=2 |access-date=February 8, 2013 |archive-date=December 11, 2019 |archive-url=https://web.archive.org/web/20191211220113/http://www.snl.com/InteractiveX/article.aspx?ID=16864989&KPLT=2 |url-status=live }}

In August 2014, MSCI acquired GMI Ratings.{{cite web |last=Stein |first=Mara |title=Battle to Grade ESG Investments Heats Up |publisher=Wall Street Journal |date=March 11, 2016 |url= https://blogs.wsj.com/riskandcompliance/2016/03/11/battle-to-grade-esg-investments-heats-up/ |access-date=August 4, 2017 |archive-url=https://web.archive.org/web/20190114062548/https://blogs.wsj.com/riskandcompliance/2016/03/11/battle-to-grade-esg-investments-heats-up/ |archive-date=January 14, 2019 |url-status=live }}

In October 2019, MSCI acquired Carbon Delta, a Zurich-based climate change analytics company.{{cite press release |title=MSCI Completes Acquisition of Carbon Delta |publisher=MSCI |date=October 2, 2019 |url= http://ir.msci.com/news-releases/news-release-details/msci-completes-acquisition-carbon-delta |access-date=January 1, 2020 |archive-url=https://web.archive.org/web/20200101135622/http://ir.msci.com/news-releases/news-release-details/msci-completes-acquisition-carbon-delta |archive-date=January 1, 2020}}

In September 2021, MSCI acquired Real Capital Analytics.{{cite press release |title=MSCI COMPLETES ACQUISITION OF REAL CAPITAL ANALYTICS |publisher=MSCI |date=September 13, 2021 |url=https://ir.msci.com/news-releases/news-release-details/msci-completes-acquisition-real-capital-analytics |access-date=November 12, 2021 |archive-date=November 12, 2021 |archive-url=https://web.archive.org/web/20211112155049/https://ir.msci.com/news-releases/news-release-details/msci-completes-acquisition-real-capital-analytics |url-status=live }}

In August 2023, MSCI completed the acquisition of New Jersey–based private assets data provider, Burgiss Group for $697 million.{{Cite news |date=August 14, 2023 |title=MSCI to acquire remaining stake in Burgiss for $697 mln in cash |work=Reuters |url=https://www.reuters.com/markets/deals/msci-acquire-remaining-stake-burgiss-697-mln-cash-2023-08-14/ |access-date=August 15, 2023 |archive-date=August 15, 2023 |archive-url=https://web.archive.org/web/20230815164422/https://www.reuters.com/markets/deals/msci-acquire-remaining-stake-burgiss-697-mln-cash-2023-08-14/ |url-status=live }}

In October 2021, MSCI and Cboe Global Markets signed a licensing agreement that would see MSCI grow its options product suite and allow them to work on other projects as well.{{Cite web |title=Cboe and MSCI plan options growth following partnership extension |url=https://www.thetradenews.com/cboe-and-msci-plan-options-growth-following-partnership-extension/ |access-date=April 29, 2022 |website=TheTradeNews.com |archive-date=April 29, 2022 |archive-url=https://web.archive.org/web/20220429171339/https://www.thetradenews.com/cboe-and-msci-plan-options-growth-following-partnership-extension/ |url-status=live }}{{Cite web |date=October 21, 2021 |title=Cboe and MSCI expand relationship |url=https://www.finextra.com/pressarticle/89909/cboe-and-msci-expand-relationship |access-date=April 29, 2022 |website=Finextra Research |archive-date=October 21, 2021 |archive-url=https://web.archive.org/web/20211021202337/https://www.finextra.com/pressarticle/89909/cboe-and-msci-expand-relationship |url-status=live }}

In April 2022, MSCI entered into a collaboration with MarketAxess to incorporate MSCI's environmental, social, and governance (ESG) data and MarketAxess' pricing and liquidity indicators into fixed income indices in order to construct portfolios based on this data.{{Cite web |title=MSCI and MarketAxess enter into a strategic collaboration - The TRADE |url=https://www.thetradenews.com/msci-and-marketaxess-enter-into-a-strategic-collaboration/ |url-status=live |archive-url=https://web.archive.org/web/20220429185446/https://www.thetradenews.com/msci-and-marketaxess-enter-into-a-strategic-collaboration/ |archive-date=April 29, 2022 |access-date=April 29, 2022 |website=TheTradeNews.com }}{{Cite web |date=April 29, 2022 |title=MSCI and MarketAxess Collaborate on Indexes |url=https://www.marketsmedia.com/msci-and-marketaxess-collaborate-on-indexes/ |url-status=live |archive-url=https://web.archive.org/web/20220429093632/https://www.marketsmedia.com/msci-and-marketaxess-collaborate-on-indexes/ |archive-date=April 29, 2022 |access-date=April 29, 2022 |website=Markets Media }}{{Cite web |title=MSCI and MarketAxess collaborate on liquidity fixed income indexes |url=https://www.securitiesfinancetimes.com/securitieslendingnews/industryarticle.php?article_id=225515&navigationaction=industrynews&newssection=industry |url-status=live |archive-url=https://web.archive.org/web/20220429121208/https://www.securitiesfinancetimes.com/securitieslendingnews/industryarticle.php?article_id=225515&navigationaction=industrynews&newssection=industry |archive-date=April 29, 2022 |access-date=April 29, 2022 |website=SecuritiesFinanceTimes.com }}{{Cite web |title=MSCI and MarketAxess collaborate {{!}} Structured Finance {{!}} Structured Credit Investor |url=https://www.structuredcreditinvestor.com/Article.asp?PUB=&ISS=27164&SID=79534&article=MSCI-and-MarketAxess-collaborate |url-status=live |archive-url=https://web.archive.org/web/20220523234947/https://www.structuredcreditinvestor.com/Article.asp?article=MSCI-and-MarketAxess-collaborate&PUB=&ISS=27164&SID=79534 |archive-date=May 23, 2022 |access-date=April 29, 2022 |website=StructuredCreditInvestor.com }}{{Cite news |title=MSCI, MarketAxess partner on fixed income indexes |url=https://www.globalinvestorgroup.com/articles/3698528/msci-marketaxess-partner-on-fixed-income-indexes |url-status=live |archive-url=https://web.archive.org/web/20230418022636/https://www.globalinvestorgroup.com/articles/3698528/msci-marketaxess-partner-on-fixed-income-indexes |archive-date=April 18, 2023 |website=GlobalInvestorGroup.com |access-date=April 29, 2022 }}

The MSCI global equity indices have been calculated since 1969 and include MSCI World{{cite book |page=165 |title=Invest with the Fed: Maximizing Portfolio Performance by Following Federal Reserve Policy |last1=Johnson |first1=Robert R. |last2=Jensen |first2=Gerald R. |last3=Garcia-Feijoo |first3=Luis |name-list-style=amp |publisher=McGraw Hill Professional |date=2015}} and MSCI EAFE.{{cite book |url=https://books.google.com/books?id=alysnLedf5oC&pg=PA288 |page=288 |title=International Financial Management |first=V.S. |last=Somanath |isbn=9789381141076 |date=February 2011 |publisher=I. K. International Pvt |access-date=September 4, 2017 |archive-url=https://web.archive.org/web/20200124221239/https://books.google.com/books?id=alysnLedf5oC&pg=PA288 |archive-date=January 24, 2020 |url-status=live }} Initially, the company used eight factors in developing its indices: momentum, volatility, value, size, growth, size nonlinearity, liquidity, and financial leverage.{{cite book |last1=Drake |first1=Pamela Peterson |last2=Fabozzi |first2=Frank J. |title=Analysis of Financial Statements |url=https://books.google.com/books?id=18GN6rqSJ84C&pg=PT292 |access-date=November 18, 2015 |date=October 1, 2012 |publisher=John Wiley & Sons |isbn=9781118331910 |pages=292 }}

In 2018 MSCI began including Chinese A-shares in its MSCI Emerging Markets Index.{{Cite book |last=Leutert |first=Wendy |title=China's State-Owned Enterprises: Leadership, Reform, and Internationalization |date=2024 |publisher=Cambridge University Press |isbn=978-1-009-48654-5 |edition= |series=Business and Public Policy Series |location=Cambridge |pages=158}} Initially the domestic Chinese companies received a 5% weighting in the index. MSCI is the last major index provider to include the companies, but some investors have questioned the risk as many Chinese listed companies refuse to permit the Public Company Accounting Oversight Board to inspect their financial records. The action of including Chinese stocks into MSCI EM Index also received criticism and questions from Senator Marco Rubio and some others regarding the U.S. national security.{{Cite news|url=https://www.reuters.com/article/msci-indexes-rubio-idUSL4N23K3LW|title=U.S. senator queries MSCI over inclusion of Chinese shares in major benchmark|last=Price|first=Michelle|date=June 13, 2019|work=Reuters|access-date=June 23, 2019 |archive-url=https://web.archive.org/web/20190712072109/https://www.reuters.com/article/msci-indexes-rubio-idUSL4N23K3LW |archive-date=July 12, 2019 |url-status=live }}{{Cite news |url=https://www.bloomberg.com/news/articles/2019-05-12/msci-is-adding-china-stocks-just-when-foreigners-don-t-want-them|title=Foreigners Can Soon Own More China Stocks. But No One Wants Them |last=Yap |first=Livia |date=May 12, 2019 |work=Bloomberg News |access-date=June 23, 2019 |archive-url=https://web.archive.org/web/20190518234301/https://www.bloomberg.com/news/articles/2019-05-12/msci-is-adding-china-stocks-just-when-foreigners-don-t-want-them|archive-date=May 18, 2019 |url-status=live }}{{Cite news |url=https://www.washingtonpost.com/opinions/2019/06/13/chinas-infiltration-us-capital-markets-is-national-security-concern/ |title=China's infiltration of U.S. capital markets is a national security concern |last=Rogin |first=Josh |date=June 13, 2019 |newspaper=The Washington Post |access-date=June 22, 2019 |archive-url=https://web.archive.org/web/20190630111603/https://www.washingtonpost.com/opinions/2019/06/13/chinas-infiltration-us-capital-markets-is-national-security-concern/ |archive-date=June 30, 2019 |url-status=live }}{{Cite web |title=MSCI denies politics swayed inclusion of more Chinese shares |last=Stafford |first=Philip |newspaper=Financial Times |date=March 14, 2019 |access-date=January 17, 2021 |url=https://www.ft.com/content/bbe7b2c2-45ca-11e9-b168-96a37d002cd3 |archive-date=November 30, 2020 |archive-url=https://web.archive.org/web/20201130123743/https://www.ft.com/content/bbe7b2c2-45ca-11e9-b168-96a37d002cd3 |url-status=live }}

In February 2019, The Wall Street Journal reported the decision was the result of pressure from the Chinese government according to people familiar with the matter.{{Cite web|url=https://www.wsj.com/articles/how-china-pressured-msci-to-add-its-market-to-major-benchmark-11549195201|title=How China Pressured MSCI to Add Its Market to Major Benchmark|last=Bird|first=Mike|date=February 3, 2019|website=The Wall Street Journal |access-date=June 23, 2019|archive-url=https://web.archive.org/web/20190605220607/https://www.wsj.com/articles/how-china-pressured-msci-to-add-its-market-to-major-benchmark-11549195201|archive-date=June 5, 2019|url-status=live}} The New York Times reported that "The Chinese government long sought MSCI inclusion because it could help establish Shanghai and Shenzhen as global financial centers."{{Cite web |title=China Will Be Part of a Popular Stock Index, Opening the Door to Foreign Money (Published 2017) |last1=Bradsher |first1=Keith |last2=Stevenson |first2=Alexandra |newspaper=The New York Times |date=June 20, 2017 |access-date=July 7, 2021 |url=https://www.nytimes.com/2017/06/20/business/dealbook/china-msci-stock-index.html |archive-date=July 9, 2021 |archive-url=https://web.archive.org/web/20210709231958/https://www.nytimes.com/2017/06/20/business/dealbook/china-msci-stock-index.html |url-status=live }} MSCI chief executive and chairman Henry Fernandez stated there was "zero politics" behind the decision. In March 2019, CNBC reported that MSCI have a future plan of inclusion based on market capitalization of mainland Chinese shares in its global benchmarks,{{Cite web |title=MSCI China A Inclusion |publisher=MSCI |date=August 2018 |access-date=January 17, 2021 |url= https://www.msci.com/msci-china-a-inclusion |archive-url=https://web.archive.org/web/20190630185701/https://www.msci.com/msci-china-a-inclusion|archive-date=June 30, 2019|url-status=live}} which will eventually lead to ca. 40% weights of its global emerging markets index.{{Cite web|url=https://www.cnbc.com/2019/03/01/msci-to-quadruple-weighting-of-china-a-shares-in-global-benchmarks.html|title=MSCI to quadruple weighting of China A-shares in its global benchmarks|date=March 1, 2019|website=CNBC |access-date=June 23, 2019|archive-url=https://web.archive.org/web/20190702031541/https://www.cnbc.com/2019/03/01/msci-to-quadruple-weighting-of-china-a-shares-in-global-benchmarks.html|archive-date=July 2, 2019|url-status=live}}{{Cite web|url=https://www.wsj.com/articles/indexes-to-unleash-flood-of-money-into-chinese-stocks-11558006200 |title=Indexes to Unleash Flood of Money Into Chinese Stocks|last=Loder |first=Asjylyn |date=May 16, 2019 |website=The Wall Street Journal |access-date=June 23, 2019 |archive-url=https://web.archive.org/web/20190623031145/https://www.wsj.com/articles/indexes-to-unleash-flood-of-money-into-chinese-stocks-11558006200|archive-date=June 23, 2019 |url-status=live }}

In April 2020, it was reported that Donald Trump was considering an executive action to prohibit the Thrift Savings Plan from transferring $50 billion to mirror the MSCI All Country World Index fund.{{Cite news |last=Leonard |first=Jenny |date=April 30, 2020 |title=Trump Weighs China Stock Ban for $50 Billion of Federal Savings |work=Bloomberg News |url=https://www.bloomberg.com/news/articles/2020-05-01/trump-considers-order-to-block-savings-fund-from-chinese-firms |url-status=live |access-date=May 3, 2020 |archive-url=https://web.archive.org/web/20200501222501/https://www.bloomberg.com/news/articles/2020-05-01/trump-considers-order-to-block-savings-fund-from-chinese-firms |archive-date=May 1, 2020 }} In December 2020, MSCI announced that it would strip its indices of seven Chinese companies in response to Executive Order 13959.{{Cite news|last=Ping|first=Chong Koh|date=December 16, 2020|title=MSCI Drops Chinese Stocks on U.S. Blacklist |work=The Wall Street Journal|url=https://www.wsj.com/articles/msci-drops-chinese-stocks-on-u-s-blacklist-11608098310|url-status=live|access-date=December 16, 2020|issn=0099-9660|archive-date=December 16, 2020|archive-url=https://web.archive.org/web/20201216060509/https://www.wsj.com/articles/msci-drops-chinese-stocks-on-u-s-blacklist-11608098310}}{{Cite news |last1=Kerber |first1=Ross |last2=Alper |first2=Alexandra |last3=Westbrook |first3=Tom |date=December 16, 2020 |title=MSCI chops Chinese firms from global indexes, but will keep them elsewhere |work=Reuters |url=https://www.reuters.com/article/us-usa-china-indexes-idUSKBN28P321 |url-status=live |access-date=December 16, 2020 |archive-date=December 15, 2020 |archive-url=https://web.archive.org/web/20201215232546/https://www.reuters.com/article/us-usa-china-indexes-idUSKBN28P321 }}

Although the A share full inclusion plan was noted by investors years ago, full inclusion had not been realized {{As of|2021|lc=on|post=.}}{{Cite web |date=May 19, 2021 |title=Are you being left behind? Institutions are not waiting on MSCI China A-share inclusion |url=https://www.etfstrategy.com/are-you-being-left-behind-institutions-are-not-waiting-on-msci-china-a-share-inclusion-98547/ |access-date=July 7, 2021 |website=ETF Strategy |archive-date=July 9, 2021 |archive-url=https://web.archive.org/web/20210709184542/https://www.etfstrategy.com/are-you-being-left-behind-institutions-are-not-waiting-on-msci-china-a-share-inclusion-98547/ |url-status=live }}

In November 2022, a study by Sheffield Hallam University and Hong Kong Watch identified three major stock indices provided by MSCI that include at least 13 companies allegedly involved in forced labor and mass surveillance of Uyghurs.{{Cite web |last=Abdul |first=Geneva |date=November 23, 2022 |title=Major Funds Exposed to Companies Allegedly Engaged in Uyghur Repression in China |url=https://www.theguardian.com/world/2022/nov/23/major-pension-funds-exposed-companies-investing-uyghur-repression-china |access-date=November 23, 2022 |website=The Guardian |archive-date=November 23, 2022 |archive-url=https://web.archive.org/web/20221123180657/https://www.theguardian.com/world/2022/nov/23/major-pension-funds-exposed-companies-investing-uyghur-repression-china |url-status=live }}

In August 2023, the United States House Select Committee on Strategic Competition between the United States and the Chinese Communist Party announced an investigation into MSCI's investments in China.{{Cite news |last1=Martina |first1=Michael |last2=Zengerle |first2=Patricia |last3=Zengerle |first3=Patricia |date=August 3, 2023 |title=Subpoenas Possible for BlackRock, MSCI over China Investments -US House Panel Chair |work=Reuters |url=https://www.reuters.com/business/finance/subpoenas-possible-blackrock-msci-over-china-investments-us-house-panel-chair-2023-08-03/ |access-date=August 4, 2023 |archive-date=August 3, 2023 |archive-url=https://web.archive.org/web/20230803233423/https://www.reuters.com/business/finance/subpoenas-possible-blackrock-msci-over-china-investments-us-house-panel-chair-2023-08-03/ |url-status=live }} The committee concluded that MSCI channeled $3.7 billion into blacklisted entities in 2023.{{Cite news |last1=Biswas |first1=Pritam |last2=Yasmin |first2=Mehnaz |date=April 18, 2024 |title=US Firms Channeled Funds to Blacklisted Chinese Companies, Says House Panel |url=https://www.reuters.com/business/finance/wall-street-steered-billions-blacklisted-chinese-companies-probe-wsj-reports-2024-04-18/ |work=Reuters |access-date=April 18, 2024 }}

• MSCI Hong Kong Index
• MSCI KLD 400 Social Index

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| bloomberg = MSCI:US

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