FTSE Russell Extends Move To New Industry Classifications
In light of COVID-19, FTSE Russell has been proactively assessing client readiness to implement new ICB in FTSE Russell indexes. Clients have shared that a work-from-home workforce and COVID-related resource limitations make it difficult to implement such a large-scale project.
Therefore, FTSE Russell has decided to extend the implementation of new ICB to give clients additional time to implement this change. We encourage clients to continue their development efforts so that they are prepared for the new dates.
Index migration dates
All FTSE Russell indexes will transition to the new ICB framework over the course of 2020 and 2021, as outlined in the updated FAQS and RUSSELL INDEXES IMPLEMENTATION TIMETABLE and FTSE INDEXES IMPLEMENTATION TIMETABLE.
- Russell Indexes scheduled to adopt the new ICB framework in June 2020 will instead transition at the September review, effective at the open of September 21, 2020. Please note that open constituent holdings files sent on the night of Friday September 18, 2020 will be in the new file format.
- FTSE indexes scheduled to adopt the new ICB framework in September 2020 will instead transition at the March semi-annual index review, effective at the open of March 22, 2021. Please note that open constituent holdings files sent on the night of Friday March 19, 2021 will be in the new file format.
In order to support FTSE Russell clients during this migration, the legacy Industry Classification Benchmark (ICB) and Russell Global Sectors (RGS) schemes will be maintained within the index files until the respective index migration effective dates.
Impacted Russell US index parallel files will continue to be available in the Customer Development Service (CDS) environment up to the new transition date. Impacted FTSE indexes parallel files will be available as scheduled from June 29, 2020. Log in information for FTSE clients will be provided before the start of the parallel files launch date.
Source: FTSE Russell
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