Nasdaq Inc. will enact a rule change designed to slash the time it takes for newly listed, large-cap companies to enter its main index, a move that will give shares of behemoths like SpaceX a faster route into funds that are pegged to the benchmark.
Initial public offerings whose market capitalizations rank within the Nasdaq 100’s top members will normally be eligible to be included after 15 days of trading, Nasdaq said in a statement. The timeline is shortened from at least three months currently.
“Industry professionals, including asset managers and institutional passive portfolio managers, were mostly supportive ...
