Toronto [Canada], September 14 (ANI): S&P Dow Jones Indices (S&P DJI) will revise eligibility criteria for its S&P/TSX Canadian Indices, a move that could pave the way for major copper producer Anglo-Teck to join the benchmarks, as per a Reuters report.

With this new criteria, foreign issuers listed on the Toronto Stock Exchange (TSX) that are neither domiciled nor incorporated in Canada could qualify for inclusion in S&P/TSX Canadian Indices if they have a material and substantive connection to the country.

"Under the new criteria, foreign issuers listed on the Toronto Stock Exchange but neither domiciled nor incorporated in Canada could qualify for inclusion if they have a material and substantive connection to Canada," it said.

Previously, eligibility was limited to TSX-listed companies domiciled or incorporated in Canada. The S&P/TSX Canadian Indices include the S&P/TSX Composite, Canada's benchmark stock index.

Anglo American's USD 53 billion all-stock merger with TSX Composite-listed Teck Resources is expected to close between September and March, creating the world's fifth-largest copper producer. The combined company, Anglo Teck, will be headquartered in Canada, while its primary stock listing will be in London.

Apart from this, the change follows a consultation with market participants launched in July and is scheduled to take effect on December 21, 2026.

As per Robert Gill, a portfolio manager at Fairbank Investment Management, it was "highly likely" that Anglo Teck would be permitted to remain in the S&P/TSX Composite Index under the proposed methodology.

'It is highly likely that Anglo Tech will be permitted to remain in the S&P/TSX Composite Index under the proposed methodology,' he said, as reported by Reuters.

Gill said Anglo Teck's ties to Canada would remain "unusually strong," citing its Vancouver headquarters, substantial economic footprint and continued spending in the country.

'Its attachment to Canada remains unusually strong - it brings a substantial Canadian economic footprint, with headquarters in Vancouver and plenty of spending in Canada for the foreseeable future.' (ANI)