Reuters and FTSE International have joined forces to classify nearly 35,000 companies in the Reuters database of equities using the FTSE Global Classification System.
FTSE International says buyside and sellside organisations are increasingly analysing markets on a broader worldwide sector basis rather than from a country-specific viewpoint. It says the new service will meet the clear need for a modern, highly granular classification system covering all stocks around the world.
Reuters will disseminate the FTSE-Reuters Classification Service through its 3000 Xtra services worldwide. The service, including details of all companies and ongoing changes, will also be made available electronically from FTSE International to investors and vendors.
To make sure shifts in market focus are accurately represented, FTSE International and Reuters will co-operate to monitor any changes in classifications, FTSE said.