The provider of Canada’s major stock indexes is considering a significant change that would allow some companies to appear in multiple countries’ indexes, paving the way for companies such as Brookfield Asset Management Ltd. BAM-T, Shopify Inc. SHOP-T and the former Ritchie Bros. Auctioneers Inc. RBA-T to be both Canadian and American.
S&P Dow Jones Indices, which runs the S&P/TSX Composite Index, the S&P/TSX 60 Index and others, says it could allow companies “with significant ties to Canada” to stay in a Canadian index even if it normally would consider the company “domiciled” in another country. The company would need to be incorporated in Canada to be eligible.
Until now, S&P Dow Jones has said a company can have just one country of domicile – and that country’s stock indexes are where it needs to be. The new Canadian proposal would be a significant move away from that.
In a statement this week, S&P Dow Jones said…
