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Managing the Upcoming FTSE Russell Index and Classification Changes

FTSE Russell have recently announced an unprecedented number of changes to both their indices and industry classifications, phased throughout 2018.


Following their merger in 2014, FTSE Russell have announced far-reaching changes, to be implemented in 2018, that will have a significant operational impact on all clients using the FTSE Global Equity Index Series (GEIS) and Russell Global Indexes (RGI). The changes announced are in two broad categories:

  • FTSE GEIS and RGI alignment – effective throughout 2018
  • Integrating Industry Classification Benchmark (ICB) and Russell Global Sectors (RGI) – effective January 1, 2019

With RIMES Managed Data Services (MDS), we shield our clients from the impact of these changes, for example, managing new mappings and updating your impacted feeds accordingly. Where there are changes to proforma schedules, we will provide updates for clients using our proforma services via our online events calendar.  When published by FTSE Russell, we offer the option to subscribe to customized sample and transition files, and historical data requirements, to assist during the transition.  If you require any further information on these services, please contact us as at support@rimes.com.

Existing RIMES MDS clients receive the following benefits to help mitigate vendor-led changes:

  • Significant time and cost savings, as we will remove the manual effort in ensuring the changes are reflected in all RIMES-delivered feeds
  • Access to our expertise, which means queries can be quickly resolved to assist the decision-making process
  • De-risking implementation of the changes by subscribing to preview and history files to facilitate the transition

RIMES support for GEIS and RGI Alignment

Change Effective Date RIMES Service
Russell Global and Russell Frontier indexes will be decommissioned. Clients of standard indices will be transitioned to relevant FTSE series. Target December 2018 RIMES can help in the transition to the FTSE GEIS and FTSE Frontier Index Series, both of which are available on the RIMES platform
FTSE Global Micro Cap Index, will be added to the FTSE GEIS universe. Together with the FTSE Global All cap index, this will form the new FTSE Global Total Cap Index. First half of 2018 RIMES will manage these changes in the relevant feeds as and when they happen.
The starting universe of several Russell index families, among others the Russell RAFI and Russell Global Stability indices, will transition from the RGI universe to the FTSE GEIS universe. FTSE Russell will work with clients of RGI custom indices to transition to FTSE GEIS based indices. TBD RIMES clients subscribing to FTSE RGI and GEIS proforma data will have access to the new proforma schedules in the Managed Feeds Workstation and Feed Monitor.
When published by FTSE Russell, we offer the option to subscribe to fit-for-purpose sample and transition files, and historical data requirements, to assist during the transition.

 

RIMES support for FTSE ICB Changes

Changes Date RIMES Service
·         Real Estate Industry is added to the FTSE ICB Structure at the broadest headline level (expanding it to 11 industries).

·         Telecommunications Industry is expanded: Subsectors Telecommunications Equipment (technology) and Cable Television Services (media) are added.

·         Consumer Goods and Consumer Services will be blended into new Consumer Staples and Consumer Discretionary Industries.

The new ICB scheme takes effect after the close of December 31, 2018, and the RGS classification scheme and RGS Complete product will be discontinued. We will manage these changes as more information becomes available from FTSE Russell.

When published by FTSE Russell, we offer the option to subscribe to fit-for-purpose historical, sample and proforma data, to facilitate the change process.

Footnotes:
More information: FTSE Russell FTSE Russell Global Indexes: Next Steps
More information: FTSE Russell Product Update ICB and RGS
More information: FTSE Russell: FTSE country classifications

We are here to answer your questions

Contact us for more information on our historical and proforma services to facilitate the migration.