Industry Classification Benchmark (ICB)

Industry Classification Benchmark (ICB) is a globally utilized standard for the categorization and comparison of companies by industry and sector. It is the official sector classification used across FTSE Russell indexes for analysis, attribution and performance measurement.

ICB is widely adopted by global institutional clients and has many application use cases:

Asset managers
Sector exposure analysis, strategy execution and attribution reporting.

Data providers
A reference data map allowing systems to categorize, manage and follow companies by industry.

Used by stock exchanges globally to categorize listed companies, including London Stock Exchange, Euronext, NASDAQ OMX, Johannesburg Stock Exchange, SIX Swiss Exchange, Borsa Italiana, Athens Exchange, Cyprus Stock Exchange, and Boursa Kuwait.

Clients chose ICB as their sector classification data provider for its:

Inclusive structural development process

ICB is supported by an independent external advisory committee that comprises of top industry sector market practitioners. It leverages the FTSE Russell Governance process, capturing collective perspectives and insights from industry experts around the world.

Comprehensive and relevant taxonomy

Its four-tier structure offers a robust system for comparing and analyzing like-organizations.

  • 11 Industries
  • 20 Supersectors
  • 45 Sectors
  • 173 Subsectors

Unbiased approach to company research

Companies are allocated to subsectors based on a transparent research process to determine the nature of its business, which includes assessment of revenue source data and other publicly available information.

  • Understand exactly how and why companies are allocated in the Ground Rules
  • Challenge assigned company classification through a publicly available form

Methodology, policy and other documentation – New ICB structure

The ICB taxonomy overview is available in seven languages: Chinese, English, French, German, Italian, Japanese, and Spanish.  Please contact us to request a translated version.

FTSE Russell indexes 2020-2021 ICB indexes migration

Russell indexes migration

All Russell indexes will adopt the newly-enhanced ICB structure after market close on Friday, September 18, 2020.

The current RGS structure will remain in place for Russell Indexes until the migration date.

Watch the recorded webinar: ICB Introduction and Russell Indexes Migration Details

FTSE indexes migration

All FTSE indexes will adopt the newly-enhanced ICB structure after market close on Friday, March 19, 2021, in conjunction with the semi-annual index review.

The legacy ICB structure will remain in place for FTSE indexes until the migration date.

Legacy Data product transition

ICB policies, processes and structure have been enhanced as of July 1, 2019. 

RGS Complete deliverables will continue to be supported through September 2020, and the legacy ICB Universe files will continue to be supported through March 2021.

Interested in licensing ICB data?

Contact us