Boursa Kuwait adopts FTSE Russell's Industry Classification Benchmark

FTSE Russell, the global index, data and analytics provider, announces today that its Industry Classification Benchmark (ICB®) has been licensed by Boursa Kuwait for all equity stocks listed on its markets. Boursa Kuwait will adopt the ICB standard from 03 June 2018.

ICB is a comprehensive, globally recognised standard, operated and managed by FTSE Russell for categorising companies and securities across four levels of classification (Industry, Supersectors, Sector, and Subsector*). Each company is allocated to the Subsector that most closely represents the nature of its business, which is determined by its primary source of revenue or other publicly available information.

ICB has been adopted by stock exchanges around the world including Athens Stock Exchange, Borsa Italiana, Cyprus Stock Exchange, Euronext, Johannesburg Stock Exchange, London Stock Exchange, NASDAQ OMX, Singapore Exchange, SIX Swiss Exchange and Taiwan Stock Exchange. Approximately 100,000 securities are classified worldwide offering increased clarity and universality that can be applied by the global investment community.


Khaled Abdulrazzaq AlKhaled, CEO, Boursa Kuwait:
“Adopting FTSE Russell’s Industry Classification Benchmark ensures that our bourse will adhere to international standards and increase transparency as well as adopt universal benchmarks, allowing the exchange to flourish and expand. Our goal of achieving worldwide status and becoming a regional leader just became a little closer with this step, an important milestone on our journey and goal of developing a liquid, reliable and sound capital market providing issuers with efficient access to capital, and investors with diverse return opportunities, evolving into a leading regional exchange.”

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