SWX SWISS EXCHANGE INTRODUCES NEW CLASSIFICATION STANDARD FOR INDUSTRIES AND SECTORS
SWX indices will be adopting Industry Classification Benchmark (ICB) sector definitions with effect from 3 January 2006. ICB is jointly owned by Dow Jones & Co. and the FTSE Group. The international renown enjoyed by FTSE and Dow Jones indices means that ICB is recognised as the global standard. The ICB structure is already used by the NASDAQ, NYSE, London Stock Exchange, Euronext, STOXX, Hang Seng, Russell, Dow Jones Wilshire, the Financial Times, The Wall Street Journal, CNBC and SmartMoney.
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. The system allocates companies to the Subsector whose definition most closely describes the nature of its business.
The ICB system analyses and manages information on over 50,000 companies from 67 countries. Its classification system is structured as follows:
- 10 Industries help investors monitor global economic trends
- 18 Supersectors can be used to determine macroeconomic strategies and to support investment and trading decisions
- 39 Sectors provide a broad benchmark for investment managers
- 104 Subsectors allow for more detailed quantitative and qualitative analysis
The adoption of ICB classification standards for SWX indices results in the following adjustments to the SPI® (Swiss Performance Index) sector indices:
| Existing DJGCS1 classification standard |
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| ICB classification standard |
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| Economic Sector |
Industry |
| Market Sector |
Supersector |
| Industry Group |
Sector |
| Sub-Group |
Subsector |
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This will mean the Economic Sector and Market Sector levels of the existing sector indices being converted fully to the ICB structure. The Industry Group and Sub-Group sector indices cannot be transferred to the new structure and will therefore cease to be calculated and published as of 3 January 2006.
1 Dow Jones Global Classification Standard
SWX Swiss Exchange Selnaustrasse 30 Postfach CH-8021 Zürich
T +41(0)58 854 54 54 F +41(0)58 854 54 55 www.swx.com |
Further information via the following links:
The current SPI® sector indices that will be replaced with effect from 3 January 2006 are listed on the following web page:
www.swx.com/trading/products/indices/stock_indices/spi/spi_sectors_en.html
The ISIN or Swiss security number, as well as index name and symbol, are to be redefined for all indices at every level. The complete list, giving attributes for each sector index, can be found on the SWX Swiss Exchange website. This site also gives a detailed structure of the new ICB classification standards as well as provisional allocations for all SPI® equities.
www.swx.com/trading/products/indices_en.html
Further information on the ICB classification standard is available from the dedicated website set up by Dow Jones and FTSE:
www.icbenchmark.com/
Should you have any questions, please feel free to contact Mr. Werner Vogt, Spokesman SWX Swiss Exchange.
Phone: +41(0)58 854 26 75 or +44(0)20 7074 4480
Fax: +41(0)58 854 27 10
E-mail: pressoffice@swx.com
SWX Swiss Exchange
The SWX Swiss Exchange, a part of the SWX Group, is one of the world’s leading and most technologically advanced securities exchanges. The fully automated trading, clearing and settlement system remains unique in the world. At the click of a mouse, an order is executed, cleared, paid for and confirmed – all within the space of 2 minutes, with an average of 2.3 million transactions each trading day. The SWX Swiss Exchange offers its customers first-rate securities exchange services and a broad range of investment products.
www.swx.com
The Industry Classification Benchmark is a joint product of Dow Jones & Company, Inc. and FTSE International Limited and has been licencsed for use. "Dow Jones" and "DJ" are trade and service marks of Dow Jones & Company Inc. "FTSE" is a trade and service mark of London Stock Exchange and The Financial Times Limited. Dow Jones and FTSE do not accept any liability to any person for any loss or damage arising out of any error or omission in the ICB.
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