Markit to use ICB classification
Markit Group is to adopt the Dow Jones/FTSE Industry Classification Benchmark (ICB) system for all its products, the group announced today.
Under the ICB, entities are classified by industry, supersector, sector and subsector: for example, 'Consumer Goods; Personal & Household Goods; Leisure Goods; Toys'.
Markit already manages the Reference Entity Database, which was set up two years ago to standardise the names of entities and related obligations, making documentation simpler and less ambiguous.
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