FTSE buys out Dow Jones interest in ICB joint venture
FTSE has today acquired full ownership of ICB, the global standard for sector classification, buying out Dow Jones Indexes' 50% interest in the joint product initiative.
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The acquisition underlines FTSE's commitment to developing ICB alongside a robust range of benchmark solutions and decision support tools for global investors.
ICB was established in 2005 as a joint product development initiative between FTSE Group and Dow Jones Indexes. Combining the substantial experience and expertise of two leading index providers, the leading classification system was developed for investors to use in their everyday trading and investment decisions. It is the broadest classification system available to the market, with a universe of 80,000 stocks and is consistently evolving to respond to market requirements.
Dow Jones Indexes will continue to maintain its own classification system based on the ICB going forward.