OMX introduces a common global industry classification standard from July 1
As a part of the integration of the Nordic and Baltic securities markets, all six OMX exchanges will as of today use the same Global Industry Classification Standard (GICS) for classifying listed securities. The listed securities in Helsinki, Tallinn, Riga and Vilnius have now been classified in accordance with the GICS standard, developed by Morgan Stanley Capital International Inc. (MSCI) and Standard & Poor’s (S&P).
A common Nordic-Baltic industry classification improves notably the international comparability of the listed companies, and provides companies with a clearly defined and larger peer group. The GICS classification covers approximately 95 percent of the world’s equity market capitalization. The Copenhagen Stock Exchange and the Stockholm Stock Exchange have used the GICS classification standard since 2001. The GICS classification is also in use at the Oslo and Iceland stock exchanges. GICS facilitates industry analysis by classifying companies on four different levels: sectors, industry groups, industries and sub-industries. The classification is based on the business area that generates the majority of the company’s revenues. The ten sectors in the GICS classification are: Energy, Materials, Industrials, Consumer Discretionary, Consumer Staples, Healthcare, Financials, Information Technology, Telecommunication Services and Utilities. The new classification will replace the current sector classification of the Helsinki Stock Exchange. In connection with the introduction of GICS, new sector indices will be launched at the Helsinki Stock Exchange on July 1, 2005. More information about the industry classification and the indices can be found at www.omxgroup.com/helsinkistockexchange.