Euronext switches to Industry Classification Benchmark
19 July 2005 | 1344 views | 0
Euronext today published details of the stocks listed on its markets which are to be reclassified under the newly adopted 'Industry Classification Benchmark' (ICB).
ICB was launched in January 2005 by FTSE Group and Dow Jones Indexes, and will be effective on 2 January 2006 on Euronext markets in Amsterdam, Brussels, Lisbon and Paris.
This new sector classification, which will replace the FTSE Global Classification System currently used, covers 40,000 companies and 45,000 securities worldwide and enables investors to identify entities according to ICB's hierarchy of ten industries, 18 supersectors, 39 sectors and 104 subsectors. From now until 31 December 2005, stocks on Euronext will be listed under both systems to give users an opportunity to get used to the new one.
As a result of the changeover, Euronext sector indices will be revised and available in early December 2005. From that date, sector indices based on the to be replaced FTSE classification system will no longer be issued but will continue to be calculated until the last trading day of the year. Daily values for the period from early December through 31 December 2005 will be displayed on the Euronext internet site starting 2 January 2006.