Baltic Stock Exchanges To Introduce GICS For I-list Companies

As a part of the integration of the Nordic and Baltic securities markets, Tallinn, Riga and Vilnius stock exchanges will introduce Global Industry Classification Standard (GICS) for classifying I List securities as of January 1, 2006. A common industry classification

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As a part of the integration of the Nordic and Baltic securities markets, Tallinn, Riga and Vilnius stock exchanges will introduce Global Industry Classification Standard (GICS) for classifying I-List securities as of January 1, 2006.

A common industry classification is expected to improve the international comparability of the listed companies, and provides companies with a clearly defined and larger peer group.

Currently all OMX exchanges (Copenhagen, Stockholm, Helsinki, Tallinn, Riga and Vilnius) use the same classification standard for the listed companies. The GICS classification is also in use at the exchanges in Oslo, and Iceland. Since July 1, 2005, the Baltic stock exchanges first introduced the GICS classification standard for their Main List companies.

The Global Industry Classification Standard (GICS) was developed by Morgan Stanley Capital International (MSCI) and Standard & Poor’s (S&P), and cover an estimated 95% of equity market capitalization globally. GICS facilitates industry analysis by classifying companies at four different levels: sectors, industry groups, industries and sub-industries. The classification is based upon the business area that generates the majority of the company’s revenues.

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