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Industry Classification Benchmark (ICB)

ICB is a single standard that defines the market


With approximately 100,000 securities classified worldwide, we provide a comprehensive data source and a definitive categorizing system for the global investment community.

Industry Classification Benchmark (ICB) is a globally recognized standard, operated and managed by FTSE Russell for categorizing companies and securities across four levels of classification.

Each company is allocated to the subsector that most closely represents the nature of its business, which is determined by its primary source of revenue and other publicly available information.

Features and contents

Investor focused Offers increased clarity, better structure and universality to meet the needs of the investment industry.
Comprehensive coverage Covers virtually any equity-related security an investment professional will encounter. A rigorous and transparent rules-based methodology enables accurate and relevant classification, ensuring low inter-sector correlation in any stage of the economic cycle.
Versatility Provides a standardized basis for analysis, stock selection and performance measurement. It aligns with investment research and analysis, numerous exchange-traded products, and services developed by analytical data vendors. It can also be used to drive a search engine or enhance existing data sources.
Global reach Adopted by stock exchanges around the world including Euronext, NASDAQ OMX, London Stock Exchange, Taiwan Stock Exchange, Johannesburg Stock Exchange, Borsa Italiana, Singapore Stock Exchange, Athens Stock Exchange, SIX Swiss Exchange, Cyprus Stock Exchange and Boursa Kuwait.
Relevant to investors The first and second level Industry and Supersector tiers are designed to reflect and facilitate sector-based investment strategies. Additional granularity is provided at the third and fourth level Sector and Subsector tiers.
Representative Independent management combined with input from research teams based in each major region allows ICB to reflect the global industrial landscape and provides the reassurance of accurate representation and continued growth and monitoring of the market.
Accurate and timely The accuracy, quality and timeliness of the data make it a very reliable reference source for validation, compliance and other reporting processes.
Efficient and effective A single data source, which removes the need for users to maintain individual databases or undertake costly and time-consuming sector research.



Weekly database: ICB Database product files are produced on the last business day of the week and are available by 10:00 p.m. US Eastern Standard Time

Daily updates: Files containing daily changes are produced at the end of each business day of the week and are available by 10:00 p.m. US Eastern Standard Time

ICB Structure and Code Changes – July 1, 2019. For additional details, please contact:

To help clients transition to the new ICB structure, the legacy ICB Universe product will continue to be provided to clients in parallel until 2020. And the discontinuation of Russell Global Sectors (RGS) has been extended to later in 2020.