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FTSE Russell announce major overhaul of their ICB Universe

Effective July 1, 2019 FTSE Russell are enhancing their standard ICB Universe product with a new ICB classification structure. Included is a fundamental change to the ICB methodology, the ICB code structure and feed formats. All firms using FTSE ICB codes should be aware of these significant changes and be preparing accordingly. Partnering with RIMES can facilitate the transition through the provision of forward-looking test files delivered in parallel to existing production feeds.

What is changing?

 
An example of some of the changes include:

ICB code character length: Changing from four digits at each level to two, four, six and eight digits to reflect ICB Industry, Supersector, Sector and Subsector levels, respectively.
Significant additional enhancements across the entire ICB structure, including:

Current ICB Structure New ICB Structure
10 Industries
19 Supersectors
41 Sectors
114 Subsectors
11 Industries
20 Supersectors
45 Sectors
173 Subsectors


Splitting of Financial Data & Systems Subsector into three Subsectors across Financials and Industrials.
Consumer Goods and Consumer Services reorganized and replaced with Consumer Discretionary and Consumer Staples.
Creation of new Marijuana Producers Subsector.

 

These changes will not only impact FTSE Russell ICB Universe files but will also result in changes to thousands of indexes from providers carrying ICB codes, including NASDAQ, STOXX and Euronext.


RIMES facilitates the transition process

 
As firms gear up to manage the changes required throughout their systems, RIMES can help facilitate the process by providing parallel feeds with the new preview and proforma ICB universe files from both FTSE Russell and other vendors carrying ICBs. As well as sourcing and managing the live feeds, RIMES can work with you to make them available where and when necessary in the required formats.

The benefits of partnering with RIMES through the transition process include:

1. Reduction in the cost and effort involved in sourcing and transforming the new ICB feeds into the required format.
2. Allowing a straightforward way to run parallel feeds during the transition process as it proceeds across 2019 – 2020.
3. Access to RIMES expertise to manage any questions or issues around the new data sets.


RIMES support for FTSE ICB Changes

Changes RIMES Service
Effective July 1, 2019, standard ICB Universe enhanced with the new ICB classification structure.
The ICB Universe product will continue to be provided in the legacy ICB structure from July 2019 through to September 2020
From July 2019, other index providers will begin delivering preview samples with new ICB model in parallel to existing feeds.
Preview feeds: New parallel ICB Universe files are available now.
Pro forma headline indices: New parallel ICB Universe files are available now.

RIMES can facilitate the management and processing and managing the parallel running of FTSE Russell, and affected ICB licensed index carriers, as new files are made available.
We provide the option to subscribe to fit-for-purpose historical, sample, preview and proforma data until the cut off in 2020

 
For more information on our historical and proforma services to facilitate the migration, please contact us.