Industry Classification Benchmark (ICB)

Industry Classification Benchmark (ICB) is a comprehensive and rules based, transparent classification methodology based on research and market trends designed to support investment solutions. It was launched in 2005 and enhanced in 2019 with the integration of the Russell Global Sectors (RGS) classification scheme and additional structural enhancements.

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.

Interested in licensing ICB data?

Contact us