The Intercontinental Exchange (ICE) and The Center for Research in Security Prices (CRSP) yesterday announced the change for it’s US indices through separate media: a newsletter and press release. This will make sure that the US indices from CRSP follow the proprietary UES classification system from ICE instead of the ICB classification.
The Industry Classification Benchmark (ICB) is an industry classification taxonomy launched by Dow Jones and FTSE in 2005. The ICB is used globally to divide the equity market into increasingly specific industry categories. The ICB system replaced the legacy FTSE and Dow Jones classification systems. An overview of the consequences of the introduction of the ICB at that time can be found at the CRSP website.
The Uniform Entity Sectors (UES) methodology from the ICE is a schema that is used for the entire US market: equities, corporate bonds and government securities. The UES system was designed in 2019 and it provides five levels of granularity with 14 Entity Sectors, 27 Entity Industry Groups, 73 Entity Industries, 118 Entity Sub-Industry Groups and 273 Entity Sub-Industries. Each classification level provides both a coded value and description. A full explanation of the classification is available at the ICE website. A direct link to the PDF reference document is available (t)here.
Filed under: CRSP |
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