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ICB Enhances Classification System With Real Estate Supersector and Alternative Energy Sector
NEW YORK, Dec. 3, 2007 - The Industry Classification Benchmark (ICB), the joint classification system launched by Dow Jones Indexes and FTSE Group, today announced that they will be enhancing their four-tier industry classification system. ICB is a detailed and comprehensive structure for sector and industry analysis, facilitating the comparison of companies across four levels of classification and national boundaries.
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Additions will be made to the
supersector, sector and subsector levels, beginning with the
elevation of real estate to the supersector level. Seven new
subsectors will be added under real estate to include more detailed
classification of REITs. Additionally, ICB will recognize
alternative power sources by adding an alternative energy sector
under the oil & gas supersector. These changes will be effective to
the ICB system on March 1, 2008.
With the integration of the above
enhancements, the structure will now be based on 10 industries, 19
supersectors, 41 sectors and 114 subsectors and offers broad, global
coverage of over 50,000 companies and 55,000 securities. Prior to
the revisions, the ICB Structure included 10 industries, 18
supersectors, 39 sectors and 104 subsectors.
ICB's changes to the classification of
real estate companies will reflect the increasingly-recognized
differences between real estate firms and financial services firms,
and will provide more precise categorizations of real estate
companies, particularly real estate investment trusts (REITs). The
real estate sector will be elevated to a supersector with a new
hierarchy of real estate sectors and subsectors including real
estate holding & development companies, real estate services, and
REITs involved in: industrial & office, retail, residential,
diversified properties, specialty properties, mortgage companies,
and hotels & lodging.
Expansions to oil and gas are being made
to reflect the changing energy market, specifically the
proliferation of companies involved in alternative energy and
alternative utilities. The oil and gas industry group and
supersector will be expanded to include an alternative energy sector
with renewable energy equipment and alternative fuel subsectors. The
electricity sector will now be separated into conventional
electricity and alternative electricity subsectors and will continue
to be classified under the utilities supersector.
ICB is now in use by major stock
exchanges, data distributors, index providers, buy side and sell
side institutions, custodians and media organizations globally.
Global financial institutions have integrated ICB into their
investment workflow and financial services, including NASDAQ,
NYSE/Euronext, the London Stock Exchange, the Swiss Exchange, Aegon,
the International Monetary Fund and the World Economic Forum, as
well as media outlets including The Wall Street Journal, the
Financial Times, CNBC and Dow Jones Newswires.
James Cemprola, Managing Director, ICB
commented, ``The rapid adoption of ICB is a testament to the
product's comprehensive global coverage, which is increasingly
becoming the industry standard. Its balanced structure makes ICB
attractive to financial institutions on the buy side, sell side,
independent research, custodial banks and global distributors.''
For more information, journalists should
contact:
Dow Jones Indexes Press Offices
New York: Tel: +1 212 597 5720
Frankfurt: Tel: + 49-69-2972590
Email:
pr-indexes@dowjones.com
About ICB
ICB is the new global solution for
industry classification. A joint effort of FTSE Group (FTSE) and Dow
Jones Indexes, ICB is a comprehensive system for sector and industry
analysis, facilitating the comparison of companies across four
levels of classification. The system is supported by the ICB global
database which contains over 50,000 companies and 55,000 securities
worldwide. ICB has been adopted by stock exchanges, data
distributors, index providers, buy side and sell side institutions,
custodians and media organizations globally. For more information
about ICB, visit
http://www.icbenchmark.com.
About Dow Jones Indexes
A full-service index provider, Dow Jones
Indexes develops, maintains and licenses indexes for use as
benchmarks and as the basis of investment products. Best known for
the Dow Jones Industrial Average, Dow Jones Indexes also is co-owner
of the Dow Jones STOXX indexes, the world's leading pan-European
indexes, and together with Wilshire Associates, provides the Dow
Jones Wilshire Global Index family, which is anchored by the Dow
Jones Wilshire 5000 and covers more than 12,000 securities in 59
markets. Beyond equity indexes, Dow Jones Indexes maintains a number
of alternative indexes, including measures of the hedge fund and
commodity markets. Dow Jones indexes are maintained according to
clear, unbiased and systematic methodologies that are fully
integrated within index families.
http://www.djindexes.com
Dow Jones Indexes is part of Dow Jones &
Company (NYSE:DJ - News) (dowjones.com), which is a leading provider
of global business news and information services. Its Consumer Media
Group publishes The Wall Street Journal, Barron's, MarketWatch.com,
eFinancialNews and the Far Eastern Economic Review. Its Enterprise
Media Group includes Dow Jones Newswires, Factiva, Dow Jones Client
Solutions, Dow Jones Indexes and Dow Jones Financial Information
Services. Its Local Media Group operates community-based information
franchises. Dow Jones owns 50% of SmartMoney and 33% of STOXX Ltd.
and provides news content to CNBC and radio stations in the U.S.
About FTSE Group
FTSE Group is leader in the creation and
management of indexes and related market data services. FTSE's
flagship index, the FTSE Global Equity Index Series (GEIS), covers
98% of the world's total investable market capitalization and
includes a broad range of traditional and alternative asset class
indexes such as multinationals, style, socially responsible
investment, real estate and hedge funds. Custom indexes are designed
and created regularly to meet a wide variety of investment
strategies for clients. FTSE also manages and calculates non-market
capitalization weighted indexes, which offer investors an
alternative way to benchmark performance.
FTSE has partnered with notable
financial industry leaders in key regions to create unique and
innovative products for the investment community, including NASDAQ,
Dow Jones Indexes, NAREIT, Institutional Shareholder Services (ISS),
and Research Affiliates (RAFI) in the U.S.; Xinhua Financial Network
of China, Nikkei of Japan (Nihon Keizai Shimbun, Inc), and the ASEAN
stock exchanges in Asia; and Euronext, the London Stock Exchange,
EPRA, and Global Wealth Associates in Europe. Partnerships with the
Athens, Cyprus, Johannesburg, Luxembourg and Madrid stock exchanges
round out FTSE's global coverage of markets worldwide.
Source: Dow Jones Indexes
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