Abu Dhabi Securities Exchange (ADX) adopted the FTSE Russell Industry Classification Benchmark (ICB) for all equity stocks listed on its markets starting 21 March 2022.
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.
The FTSE Russell ICB is a comprehensive, globally recognised standard, categorising companies and securities across four levels of classification. Each company is allocated to the sub-sector that most closely represents the nature of its business, determined by its primary source of revenue and other publicly available information.
ICB is widely adopted by global institutional clients and has many application use cases for asset managers, data providers, and exchanges.
More information on the ICB can be found here: Industry Classification Benchmark (ICB) | FTSE Russell
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