The FTSE Group and Dow Jones Indexes have joined forces to create a new global standard for classifying bonds and equities in the indices they produce.
The Industry Classification Benchmark will start taking over from respective existing systems by the end of 2004, with a transition period beginning by June this year.
More than 50,000 equities will be affected, and the ICB is expected to be adopted by all the world’s major stock exchanges.
Investors using the ICB will benefit from "a better measure of returns at sector level," the two index providers state.
The new system will monitor:
For further information, visit www.ftse.com/icbIFAonline
Exit fees and conversions
Initial FOC of 0.6%
Former PFS president
Last commission convened in 2002