Fidessa adopts Industry Classification Benchmark (ICB)
London, 13th January 2006 - royalblue (LSE:RYB), provider of Fidessa today announced its successful adoption of the Industry Classification Benchmark (ICB) sector definitions.
Launched by Dow Jones Indexes and FTSE Group in January 2005, ICB represents a global classification system covering 40,000 companies and 45,000 securities worldwide. The coverage of the database renders it a comprehensive tool for global sector analysis and is expected to become a global standard.
The Fidessa Workstation offers market data and trading solutions for European and North American markets and has rapidly become the new benchmark and product of choice for the sell and buy-side. Workstation users now have the ability to view, analyse and make trading decisions based on the ICB Universe Database. The adoption of ICB enables Fidessa users to continue to see familiar FTSE sectors as well as being able to access the new international industry, super-sector and sector information.
The adoption of the ICB sectors ensures that not only does Fidessa continue to meet the needs of its present clients, but also broadens its appeal to potential users of Workstation and it's integrated application suite.
Simon Barnby, head of Fidessa Workstation Strategy comments: "Fidessa is constantly developing and innovating its platform to keep up with market changing developments. Through adopting ICB, Fidessa further enhances the tools and coverage already available to our clients."
The Fidessa product suite provides integrated trading, market data and connectivity solutions to over 500 buy-side institutions, 110 brokers and 22 exchanges. Fidessa is used by over 8,000 users at around 200 institutions worldwide.