Source

Primary methodology receipt for the Nasdaq leg of the lane.

Key facts:

• Effective May 1, 2026, fast-entry candidates ranked in the top 40 and meeting applicable eligibility criteria may be added to the Nasdaq-100 after 15 trading days, subject to the 3x float cap where applicable.
• Fast entry is for very large Nasdaq-listed companies; Nasdaq's FAQ describes the relevant cohort as typically above roughly $100B full market cap as of March 2026.
• A fast-entry candidate still needs average daily traded value from listing, but the traditional three-month seasoning window remains for companies outside the top-40 fast-entry threshold.
• Nasdaq uses total market value, including unlisted shares, for eligibility and ranking, while weighting uses eligible listed shares and the low-float cap.

Interpretation for the lane: Nasdaq Fast Entry is a real, primary-source market-structure mechanism. It does not prove a market-wide liquidity drain by itself; it creates a dated passive-flow test around a mega-cap IPO.