Changes in ICB Sectors at Nasdaq’s European Markets

15.05.2020 RIG, TLN, VLN

May 15, 2020 — Nasdaq (Nasdaq: NDAQ) today announced that a number of changes in the Industry Classification Benchmark (ICB) standard will be implemented on July 13, 2020. The ICB is a globally recognized standard operated and managed by FTSE Russell for labelling companies and securities across four levels of categorization – and is used across the Nasdaq Nordic & Baltic Main Markets and Nasdaq First North.

The key changes to the ICB standard include:

• The total number of Industries will move from 10 to 11, with the addition of Real Estate as the 11^th ICB industry. Real Estate was previously a part of the Financials industry.
• The Oil & Gas Industry will be renamed to Energy. Companies within the Energy Industry will be grouped at the sector level as either Renewable or Non-Renewable Energy.
• Consumer Services and Consumer Goods will be renamed to Consumer Discretionary and Consumer Staples, respectively.
• The Telecommunications Industry will be expanded to include Telecommunications Equipment (previously in the Technology Industry) and Cable Television Services (Previously in the Media Sector)

The new ICB standard includes 11 Industries, 20 Supersectors, 45 Sectors and 173 Subsectors. Each company is included in the subsector that best represents the nature of its business, which primarily is determined by its primary source of revenue and other publicly available information. 

Further information about the ICB standard and the updates can be found here: https://www.ftserussell.com/data/industry-classification-benchmark-icb

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