Editing Russell Indexes (section)

==Annual reconstitution==
Russell rebalances its indexes once each year in June, called "reconstitution". The reconstitution consists of updating the global list of investable stocks and assigning them to the appropriate indices. The Russell indexes do not immediately replace a company that merges with another firm or has its stock [[delisted]]. However, Russell adds [[initial public offering]]s (IPOs) on a quarterly basis, capturing these stocks in a systematic way.

Abnormal trading volumes caused by [[index fund]] managers re-balancing their portfolios has a history of significant [[market impact]] during the last few seconds before the [[New York Stock Exchange]] and [[NASDAQ]] closing prices are determined.<ref>{{Cite web|url=http://ir.nasdaq.com/releasedetail.cfm?ReleaseID=392369|title = Press Releases &#124; Nasdaq, Inc}}</ref>

The index rebalance is typically scheduled for the closing price on the last Friday in June.<ref>{{Cite web|url=https://russellinvestments.com/us/|title=Russell Investments United States &#124; Multi-Asset Solutions|website=russellinvestments.com}}</ref>