The FTSE Global Classification System has already been adopted by the Amsterdam, Brussels, London and Luxembourg exchanges for their domestic markets and is to be used by the Reuters database of equities. The adoption by EURONEXT, who will be classifying more than 1,400 domestic listed companies representing a total market capitalisation of 2,400 billion Euros, means the FTSE Global Classification System will be used by exchanges representing over 50% of European market cap.
Mark Makepeace, FTSE Managing Director said: "I am delighted that EURONEXT is adopting the FTSE classification system. This decision underlines the fact that Europe's financial community recognises the FTSE Global Classification System as the market leader. As investors structure their portfolios increasingly from countries to sectors, it is important that there is a common system of classifying stocks and the FTSE Global Classification System is rapidly becoming that standard.
"We believe EURONEXT has opted for the FTSE classification scheme because it is recognised by the financial market as independent, predictable and wholly transparent. This is vital for European investors who wish to analyse markets from a broader sector perspective rather than from a country specific viewpoint."
