Thomson Financial adopts Industry Classification Benchmark
Thomson Financial, an operating unit of the Thomson Corporation (NYSE: TOC; TSX: TOC) and leading provider of information and technology solutions to the worldwide financial community, will adopt the recently launched Industry Classification Benchmark (ICB) as its standard classification tool across a range of its global data products and services.
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Thomson Financial is the first global data provider to adopt ICB, and it joins stock exchanges, index providers, and publishing and media organisations worldwide to offer its clients access to the market's most innovative and flexible industry classification structure.
Launched in December 2004 by Dow Jones Indexes and FTSE Group, ICB quickly is establishing itself as the market's preferred classification system. It is designed to offer the financial industry a unified and comprehensive means of classifying 40,000 companies and 45,000 securities around the world.
"We have chosen ICB as our classification standard as it represents a truly global solution to our clients' classification needs," said Sarah Dunn, chief content officer at Thomson Financial. "Thomson Financial is committed to helping its clients achieve superior results, and we seek innovative performance tools to help us do that. ICB meets those requirements."
"This is an important strategic step for the development of ICB," said James Cemprola, managing director of ICB. "We are delighted that Thomson Financial has adopted the innovative structure for use throughout the wide range of qualitative and quantitative investment tools that it offers its clients."