Stoxx launches 22 Dow Jones Stoxx sector indexes

By Devika Patel

Knoxville, Tenn., Sept. 22 - Stoxx Ltd. announced it has adopted the new Industry Classification Benchmark, which resulted in the launch of 22 Dow Jones Stoxx sector indexes.

Two of the sector indexes, the Dow Jones Stoxx 600 Real Estate and the Dow Jones Euro Stoxx Real Estate indexes, have been licensed to derivatives exchange Eurex to serve as the basis for equity index futures and options.

The new derivatives became available Monday.

The Industry Classification Benchmark system classifies companies according to their primary source of revenue. It now consists of 10 industries, 19 supersectors (formerly 18), 41 sectors (earlier 39) and 114 subsectors (previously 104).

Within the Stoxx universe, changes have been made within the current financials, oil and gas and utilities industry. Real estate has been elevated to a supersector level, separating between real estate investment and services and real estate investment trusts on a sector level.

Three sectors have been added to the Stoxx universe on the supersector and sector level, leading to the addition of 22 new indexes in the Dow Jones Stoxx Global 1800, Dow Jones Stoxx 600, Dow Jones Euro Stoxx, Dow Jones Stoxx ex UK, Dow Jones Stoxx Total Market and Dow Jones Stoxx Nordic Total Market Sector index families.

"The Dow Jones Stoxx Sector indexes offer an alternative view of the performance of the European stock market," Werner Boerki, chairman of the Stoxx supervisory board, said in a press release. "The enhanced classification system, combined with a transparent and rules based methodology make our sector indexes an ideal instrument for research and analysis. Our advanced benchmarks are broadly used as underlying for investment products."

Launched on June 15, 1998, the Dow Jones Stoxx 600 Supersector indexes aim to represent the largest European companies in each of the now 19 ICB supersectors and currently cover Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom.

The Dow Jones Euro Stoxx Supersector indexes were launched on June 15, 1998 and aim to represent the largest supersector companies in the Euro zone. They currently cover Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain.

The 19 supersectors are automobiles and parts, banks, basic resources, chemicals, construction and materials, financial services, food and beverage, health care, industrial goods and services, insurance, media, oil and gas, personal and household goods, real estate, retail, technology, telecommunications, travel and leisure and utilities.

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