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Article: FTSE Group and Dow Jones Indexes to Merge Industry-Classification Systems.
- Article from:
- PR Newswire
- Article date:
- February 19, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, February 19 /PRNewswire/ -- FTSE Group and Dow Jones Indexes, two of the world's most successful index providers, signed a Memorandum of Understanding today to merge their industry-classification systems to create a single, seamless structure covering equities and corporate bonds world-wide. The new system will be known as the Industry Classification Benchmark (ICB), and will cover 50,000 companies worldwide. It is expected to take effect by the end of 2004.
The ICB, which is owned equally by both companies, is expected to become an instant global industry standard. The existing FTSE and Dow Jones Indexes systems are already used by the world's largest ...