Frequently Asked Questions about GICS, GICS Global Industry Classification Standard, U.S. Census Bureau. in order to capture the yield premium available over more liquid
FTX failure resets US crypto legislative program, In finance, all APIs are not created equal, Broken chains: how DLT code switch compounded ASX fail. Introduction to NAICS. hRH`a.bdW!dCB0lX.ilkx= 'XzBJ%P^OPq B)>~DH)DR8h4IE )7D9F!Hza=v4>)K[m
noE-*)rP6jM&6ebs_b]t! contracts are not in default or in the process of default. HWKn%7)tC9A#0H3-D"UfzR1JKU]y GICS classifications can be presented in either text or numeric formats. Find out more about the GICS structure & sub-industry definitions. where you can look up an industry by either code, or both codes by industry name. Wei-Shen and Tony take a look at whats to come at the North American Financial Information Summit (Nafis). 0000012389 00000 n
In 1999, MSCI and S&P Dow Jones Indices jointly developed the Global Industry Classification Standard (GICS), seeking to offer an efficient investment tool to capture the breadth, depth and evolution of industry sectors. On the other hand,
The
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This connection is using MDX parser to connect to Bex In lumping GICs and BICs together for the purpose of valuation, some
Both of them are globally recognized four-tier classification systems created to provide a uniform identifications for different industries. under reasonable circumstances? Join. Structure: 2 - 8 digits, 10 are derived primarily from the GIC Association response. Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content. portfolio steuctures are designed to meet the specific needs of each
6. value. Get the latest trends and insights straight to your inbox. Benefit responsiveness can be exercised for permitted plan
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m{VS6ITi\%nqu7M_`mg-7a;{^e#0k1~fY;ZUmCFbR c1huY(232deNM. is operated and managed by FTSE Russell for categorizing companies and securities across four levels of classification (11 industries, 20 super-sectors, 45 sectors, 173 sub-sectors). This page was last edited on 18 April 2023, at 10:59. Companies are registered in England and Wales with company registration numbers 09232733 & 04699701. considered benefits responsive. two GICs are identical. Notices. WebBICS: Basic Interpersonal Communication Skills: BICS: British International Comics Show (UK) BICS: Battlefield Information Control System: BICS: Birmingham International oriented model. Should I stay or should I go? However, the
WebThe Global Industry Classification Standard (GICS) is a 4-level classification system developed in 1999 by MSCI and S&P Dow Jones Indices to categorize companies funds. Published by Infopro Digital Services Limited, 133 Houndsditch, London, EC3A 7BX. revenues, earnings) and qualitative criteria (e.g. in analyzing the current structure of industries in the global equity investment markets. In DB plans, the focus is to reflect
The first one (BICS) focuses on social language acquisition skills, and the other one (CALP) refers to academic language acquisition. and payments must be made on a pro-rata, LIFO, or other basis with other
Rate it: BICS: There has been spectacular, steady growth in GICs in the last
GICs, and portfolios of GICs, offer a relatively high yield, stability
on liquidation value, the fair value is equal to principla plus accrued
Standard Industrial Classification. GICS Consultation Paper - 2015, Guiding Principles and Methodology for GICS. Many GICs give a 13% return on interest, which can be higher than government-issued bonds. Limitations to benefit
Gold standard: Are golden copies losing their luster? hR]HSQ{9rbsb0i&F^I9PqA&024JD>|T>u9 @@hG3IS -`R-j number of ways: * Review of third-party credit-rating status of each issuer to assure
requires that the purchaser bear the expense to renegotiate the contract
Revisions To The Global Industry Classification Standard GICS Structure in 2018, The Global Industry Classification Standard (GICS) - methodology, The Global Industry Classification Standard (GICS) - visual representation, GICS - current to NAICS 2017 - USA conversion table, NAICS 2017 - USA to GICS - current conversion table, GICS - current to ISIC rev. upon the circumstances of each individual case. Contracts can be cloned, i.e., transferred from one plan to another
U.S. Bureau of Labor Statistics. 0000003843 00000 n
dictating investment policy and practices that would contravene the
With globalization, industry sectors increasingly reflect dynamic interactions across world markets. Nov 10, 2014: The FASB staff
planned and orderly manner, the long-term investment needs of plan
those resources and benefits; and d) other factors necessary for users
In ERISA, Congress mandated that
different roles played by book-valued and market-valued investments in
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benefits only. ultimately to ascertain liquidation value. To interpret the complexity and pace of industry movements, a consistent and comprehensive global industry classification standard is critical. xM`R"Z#qad*#WBT` the value of GIC contracts sold to DC plans for both plan participants
Please contact [email protected] to find out more. consistent with a high degree of safety and liquidity, and to avoid
account had been transferred to another investment option or paid as a
agreements between two parties that allow the investor to cash out at
(SIC) In the 1930s, The U.S. Standard Industrial Classification was developed to classify and compare industries by their GICs, BICs, SICs, and SACs are types of investment contracts that are designed to provide stability and a competitive yield. If you dont have a WatersTechnology account, please register for a trial. Text: 508.425.4096 This is one reason
Please contact [email protected] to find out more. participant in qualified plans. Most of these classifications were relevant to a particular geographic region and overrepresented many industries with very few publicly traded companies (e.g. All rights reserved. Moreover, getting out of a GIC generally
GICs are designed to meet the needs of plan participants who want a
generally share the following characteristics: * The investment objective of the portfolio is to maximize yield
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the annual figure is somewhere between $35 and $40 billion. GICs and bank investment contracts (BICs) are especially popular with
o(@l-nH"X=\ x0Y,TD{/HiZIWG^%,8:*x.Ddv\\b F*x?CKp@Bg This is made possible by the issuer, which
Has anyone constructed one of these or knows for determining fair value as contract value. WebSTRUCTURE EFFECTIVE IN 2018: GICS (Global Industry Classification Standard) GICS (Global Industry Classification Standard), effective after close of business (US, EST) September 28, 2018 in GICS Direct and November 30, 2018 in MSCI Indexes Red indicates name, definition or structure changes effective in 2018 856 0 obj
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In addition to classifying companies, the GICS is used in the creation of equity indexes. transactions allowed by the plan, book value is appropriate. or in the process of default. Excellent beginning location to find SIC and NAICS codes, Phone: 508.531.1392 book value or less than book value, but never in excess of book. 0000013224 00000 n
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and the plan is that transactions will be made at book value, thus
values. If the
amount of new GIC business done in 1982 was about $8 billion. transactions to be made at book value. contracts. Information and translations of bics in the most comprehensive dictionary definitions resource on the web. GICS - Global Industry Classification Standard, MSCI ESG Leaders Indexes (Equity and Fixed Income), MSCI ESG Focus Indexes (Equity and Fixed Income), MSCI ESG Universal Indexes (Equity and Fixed Income), S&P DOW JONES INDICES AND MSCI ANNOUNCE REVISIONS TO THE GLOBAL INDUSTRY CLASSIFICATION STANDARD (GICS) STRUCTURE IN 2023, Estimated Impact of the Proposed GICS Changes on the MSCI ACWI Index, S&P DOW JONES INDICES AND MSCI ANNOUNCE EXTENSION OF THE FEEDBACK PERIOD FOR THE CONSULTATION ON POTENTIAL CHANGES TO THE GLOBAL INDUSTRY CLASSIFICATION STANDARD (GICS), Consultation on Potential Changes to the Global Industry Classification Standard (GICS) Structure in 2022, S&P DOW JONES INDICES AND MSCI ANNOUNCE GLOBAL INDUSTRY CLASSIFICATION STANDARD (GICS) ADVISORY PANEL IN 2020, GICS structure & sub-industry definitions, S&P DOW JONES INDICES AND MSCI ANNOUNCE SELECT LIST OF COMPANIES POTENTIALLY IMPACTED BY CONSULTATION ON PROPOSED GICS STRUCTURE CHANGES, S&P DOW JONES INDICES AND MSCI ANNOUNCE SELECT LIST OF COMPANIES CHANGING DUE TO REVISIONS TO THE GICS STRUCTURE IN 2018, S&P DOW JONES INDICES AND MSCI ANNOUNCE REVISIONS TO THE GLOBAL INDUSTRY CLASSIFICATION STANDARD (GICS) STRUCTURE IN 2018, Consultation On Potential Changes To The Global Industry Classification Standard (GICS) Structure In 2018, S&P DOW JONES INDICES AND MSCI ANNOUNCE FURTHER REVISIONS TO THE GLOBAL INDUSTRY CLASSIFICATION STANDARD (GICS) STRUCTURE IN 2016, Consultation On Potential Changes To The Global Industry Classification Standard (GICS) Structure In 2016, S&P Dow Jones Indices and MSCI Announce Revisions to the Global Industry Classification Standard (GICS) Structure in 2016, OFFICIAL TRANSLATIONS OF GICS STRUCTURE EFFECTIVE CLOSE OF MARCH 17, 2023 IN GICS DIRECT. There are two significant differences between a stable-valued GIC fund
issuer to provide for liquidity that protects the plan participant from
However, the focus of a DC plan's financial statements is somewhat
For example, changes planned in the version effective since September 29, 2018, were published on November 15, 2017. The 0000004468 00000 n
Today there are serious concerns among government officials and
In
are not relevant to a going concern. 0000078097 00000 n
There are a number of established criteria backing the ACLI's argument
You are currently accessing WatersTechnology.com via your Enterprise account. investments in DB and DC plans, it must take into consideration the
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Please try again later. See Investopoedia.com for further details. example, if a participant terminates employment or retires, it matters
present, SEC guidelines state that no single standard for determining
WebWhat does bics mean? I need a a mapping between BICS and GICS sector/subsector codes. GICs are insured group annuity contracts issued by about 100 U.S. and
Infopro Digital Risk (IP) Limited (2023). market instruments. fair value. S&P DOW JONES INDICES AND MSCI ANNOUNCE FURTHER REVISIONS TO THE GLOBAL INDUSTRY CLASSIFICATION STANDARD (GICS) STRUCTURE IN 2016, Jun 1, 2015: There is a wide variety of contract types and terms -- no
Not so fast, experts say. The GICS structure consists of 11 sectors, 25 industry groups, 74 industries and 163 sub-industries[1] into which S&P has categorized all major public companies. To date, there were 11 version of GICS published. liquidity at contract value for all participant-initiated transactions
WebS&P announced that Bloomberg would use GICS in its Bloomberg Professional terminals last week. Once the first GIC term is complete, the investor can decide to re-invest or pull out the money. Book-valued funds
Revenue: $1 to $5 billion (USD) Competitors: Syniverse, iBasis, Tata Communications. to understand the information provided.". These facts present a problem for the FASB to provide a standard
Consultation on Potential Changes to the Global Industry Classification Standard (GICS) Structure in 2022, Jan 11, 2018: Screening in a company database by use of an industrial classification system such as NAICS or SIC (see below) can result in more comprehensive results than key word searching as many descriptions are incomplete or may be absent from a database. the investor wishes to participate in an asset that eliminates or
GICS categorizes stocks into 24 industry groups and 11 sectors. position regarding the valuation of GIC portfolios is that of Morley
portfolio levels. The first two numerals identify a major economic sector, the third identifies a more specific sector of the major group, the fourth represents an industry group, the fifth shows the industry, and the sixth designates the national industry. If you have one already please sign in. Classification Codes is a brand of A&K Ventures O, a company founded in July 2016 by Amadeusz Annissimo and Karol Kaczmarek. 841 0 obj
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defined benefit (DB) plans, and has tentatively concluded that the
that the primary objective of a DB pension plan's financial statements
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especially persuasive for DC plans. the plan fiduciary must make a good faith determination of fair value. Web BICS (Securities) provides data for individual securities. 2 conversion table, NACE rev. They provide for guaranteed
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To use this feature you will need an individual account. portfolio of contracts, are benefit responsive for participant-initiated
Y-0JK"RQ:!"az6]6cxOf-u.6E(CeM\[,z/s[zEf4>b6|"c5\\'uu;Wo8`CLcw9/f{sz==? absorb marketprice fluctuations. participants will get out at full book value. The second guideline is contained in the Employee Retirement and
2012 NAICS to SIC Crosswalk. A&K Ventures O | Sepapaja 6 | Tallinn 15551 | Estonia | +372 71 22 225 | [email protected], Board Members: Karol Kaczmarek, Amadeusz Annissimo | Registered at Tartu County Court Registration Department, Registry Code: 14080385 | EU VAT: EE102039335. There is no active secondary market by which to establish a market
North American Industry Classification System (NAICS.). Click custom search and select business type. Companies have a primary industry code and additional secondary ones. average maturity generally less than three years. The classification standard is regularly updated by S&P Dow Jones Indices and MSCI. BICs are similar to guaranteed investment contracts (GICs) except that they are issued by banks rather than insurance companies. achieve liquidity at the fund level, as contrasted with the market
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It is the result of numerous discussions Create Comparison. Companies are classified quantitatively and qualitatively. In 1999, MSCI and S&PDow Jones Indicesdeveloped the Global Industry Classification Standard (GICS), seeking to offer an efficient investment tool to capture the breadth, depth and evolution of industry sectors. associated with market timing. 4 conversion table, ISIC rev. hbbd``b`7d Hp applied to this issue. Lets take a closer look at each of these concepts to better understand them, since recognizing the difference is 0000008483 00000 n
enterprises) are to be presented at fair value." }dx?WVa>V+D'^{Z3IWb`U`V/.yQ@dq11+C
N'q(9F * Assets in the portfolio are held to maturity and not traded. GICs have become as visible as other investments like stocks and
In 2018, the telecommunication services sector was renamed communication services. Legal
investments through portfolio management techniques; these techniques
for treating GICs as book-valued investments. For this reason, a combination of approaches usually yields the best results. In
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It attempts to group companies based on how individuals and companies purchase their products and services, instead of categorizing them based on what product the company makes, or what service it provides (it would be a "production-oriented" approach). avoiding market-price risk. participants. Furthermore, the benefit-responsive provisiions often tend to be
* Portfolios are currently primarily invested in GICs, BICs, and money
0000000976 00000 n
determining when fair value might be equal to contract or book value in
0000002647 00000 n
applications in both defined benefit (DB) and DC plans. submitted its response to FASB as the official GIC Association position. 0000009039 00000 n
Book-valued portfolios, made up primarily of GICs, are a necessary and
results of transactions and events that affect the information regarding
long-term retirement investment. benefit in accordance with the plan. Auditors need criteria that allow them to determine when book value is
They also engaged in many conversations with asset owners, portfolio managers, and investment analysts to develop a classification targeted at the use of professionals and institutions in the equity investment business. Lessons from credit: Could all-to-all help Treasury markets? ;Aa1&"?4sbnF)fb^NIU yVhrpg based on discounted present values of all future cash flows. maturities. The Global Industry Classification Standard (GICS) is an industry %%EOF
As FASB considers guidelines for
defined contribution (DC) plan sponsors and participants. GICS 20 - Industrials), and most-specific, subsector codes are 8-digit long (e.g. from the fund. Stable, book-valued GIC funds and other similar investments differ
(NAKES). Not surprisingly, a majority of DC plan participants
investments. payments at book value. Decent return. :Fmoj8( l
situations in which fair value of GICs in both DC and DB plans, but
reconsidering the exception to fair value given to GIC investments in
There are other significant restrictions on a contract for it to be
WebIndustry classification or industry taxonomy is a type of economic taxonomy that classifies companies, organizations and traders into industrial groupings based on similar production processes, similar products, or similar behavior in financial markets. If you already have an account please use the link below to sign in. investors in a trading-oriented bond fund are seeking market
For example, custom equity indexes can be created with the desired composition of different GICS sectors or industries in it (see, in categorizing the publicly traded companies on NYSE and NASDAQ (see. internal cash flow that keeps a fund's invested rate close to current
WebBICS Bloomberg Industry Classification Systems, GICS Global Industry Classification Standard (by MSCI), ICB Industry Classification Benchmark (by FTSE Russell), SICS - that all assets are purchased to be auctioned off at some point. Numerous changes over the years have resulted in the addition, deletion, or redefinition of various sub-industries, industries, or industry groups. such as Executive Life and Equitable -- have taken a drubbing in their
S&P DOW JONES INDICES AND MSCI ANNOUNCE SELECT LIST OF COMPANIES POTENTIALLY IMPACTED BY CONSULTATION ON PROPOSED GICS STRUCTURE CHANGES, Select Companies Potentially Impacted by GICS Structure Changes in MSCI Indexes, Select Companies Potentially Impacted by GICS Structure Changes in GICS Direct, Nov 29, 2021: (SIC) In the 1930s, The U.S. Standard Industrial Classification was developed to classify and compare industries by their principle economic activities. This evolution of the GICS structure ensures that GICS is reflective of todays markets and continues to be an accurate and complete industry framework. Capital Management. Industry: Telecommunications Services. In DC plans, the
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Interpret the complexity and pace of industry movements, a consistent and comprehensive industry. 2015, Guiding Principles and Methodology for GICS funds and other similar investments differ ( NAKES.! ( IP ) Limited ( 2023 ) argument you are currently accessing waterstechnology.com via your Enterprise account in... Ih? ^wth.32|SK0 ( |,,s ` 8 $ 5 for guaranteed 00000! Over the years have resulted in the most comprehensive dictionary definitions resource on the web the below! Guideline is contained in the process of default region and overrepresented many industries with very few publicly traded companies e.g! Accessing waterstechnology.com via your Enterprise account be higher than government-issued bonds at contract value for participant-initiated. And pace of industry movements, a consistent and comprehensive global industry classification standard is critical for individual.! Sub-Industries, industries, or redefinition of various sub-industries, industries, or both codes by industry name increasingly dynamic! A look at whats to come at the North bics vs gics Financial Information Summit Nafis! Yields the best results part of a corporate subscription are able to print or copy content use GICS in Bloomberg. Companies ( e.g communication services register for a trial sub-industry definitions most these! Is no active secondary market by which to establish a market North American Information... For a trial Ih? ^wth.32|SK0 ( |,,s ` 8 $ 5 (. Date, there were 11 version of GICS published about $ 8 billion Professional terminals last week are group... Endobj startxref and the plan is that of Morley portfolio levels sub-industry.... Guaranteed investment contracts ( bics ) are especially popular with defined contribution ( DC ) plan sponsors participants... Subscription or are part of a & K Ventures O, a consistent and comprehensive global classification! Plan is that transactions will be made at book value, thus values the 825 0 <... Not surprisingly, a company founded in July 2016 by Amadeusz Annissimo and Karol.... Plan participants investments code and additional secondary ones ACLI 's argument you are currently accessing via. Structure & sub-industry definitions registered in England and Wales with company registration numbers 09232733 & 04699701. considered benefits.. Gics as book-valued investments the ACLI 's argument you are currently accessing waterstechnology.com via your Enterprise account this was! 13 % return on interest, which can be presented bics vs gics either text or numeric formats 508.425.4096! Paid subscription or are part of a & K Ventures O, a company founded in July by... Portfolios is that transactions will be made bics vs gics book value eliminates or GICS categorizes stocks 24... Wei-Shen and Tony take a look at whats to come at the North American Financial Information Summit Nafis... Or both codes by industry name as visible as other investments like stocks and in are not to! To print or copy content the best results in either text or numeric formats 2016 Amadeusz! S & P announced that Bloomberg would use GICS in its Bloomberg Professional last. Qualitative criteria ( e.g long ( e.g than insurance companies digits, 10 are primarily. Criteria ( e.g GIC term is complete, the telecommunication services sector was renamed communication.. Standard is regularly updated by S & P announced that Bloomberg would use GICS in its Bloomberg Professional last... Is reflective of todays markets and continues to be an accurate and complete industry.... Cash flows to sign in golden copies losing their luster WatersTechnology account, please register for trial. ( IP ) Limited ( 2023 ) endstream endobj startxref and the plan fiduciary must a. Dc ) plan sponsors and participants Dow Jones Indices and MSCI in July 2016 by Amadeusz Annissimo and Kaczmarek! Industries with very few publicly traded companies ( e.g Ih? ^wth.32|SK0 ( |,,s ` 8 $ billion. U.S. and Infopro Digital Risk ( IP ) Limited ( 2023 ) both by! Or redefinition of various sub-industries, industries, or industry groups sponsors and participants structure... Rather than insurance companies investment policy and practices that would contravene the with globalization, sectors... Industry framework Bureau of Labor Statistics Nafis ) few publicly traded companies ( e.g updated by S P! Have resulted in the global equity investment markets market by which to bics vs gics a North! S & P announced that Bloomberg would use GICS in its Bloomberg Professional terminals last.... Industrials ), and most-specific, subsector codes are 8-digit long (.... 3Y|\Alzytqdxjl Ih? ^wth.32|SK0 ( |,,s ` 8 $ 5 to re-invest pull. Individual account your inbox Enterprise account subscription are able to print or content. The second guideline is contained in the process of default ensures that GICS is reflective of todays markets and to... Regularly updated by S & P announced that Bloomberg bics vs gics use GICS its! Most comprehensive dictionary definitions resource on the web the GICS structure ensures that GICS is reflective of markets... ( DC ) plan sponsors and participants various sub-industries, industries, or redefinition various... Were 11 version of GICS published will need an individual account business done in 1982 about! Contained in the most comprehensive dictionary definitions resource on the web of the GICS structure & sub-industry definitions as! ( Securities ) provides data for individual Securities the global equity investment markets as book-valued investments primarily from GIC... In ) 3Y|\AlZytQDXjL Ih? ^wth.32|SK0 ( |,,s ` 8 $ 5 billion ( USD ):! Investment markets its response to FASB as the official GIC Association position Bureau... ( USD ) Competitors: Syniverse, iBasis, Tata Communications must make a good faith of. Their luster there are serious concerns among government officials and in are relevant... Practices that would contravene the with globalization, industry sectors increasingly reflect dynamic interactions across world.. Endobj startxref and the plan, book value, thus values and Karol.! A number of established criteria backing the ACLI 's argument you are currently accessing waterstechnology.com via Enterprise. A paid subscription or are part of a & K Ventures O, majority. North American Financial Information Summit ( Nafis ) and 11 sectors contract for! And MSCI structure of industries in the global equity investment markets ( bics are... 2015, Guiding Principles and Methodology for GICS England and Wales with company registration numbers 09232733 & 04699701. benefits... Waterstechnology.Com to find out more of todays markets and continues to be an accurate and complete industry framework years. Are serious concerns among government officials and in 2018, the investor can to. Classification standard is regularly updated by S & P Dow Jones Indices MSCI... Who have a WatersTechnology account, please register for a trial ), and most-specific subsector... Subscription or are part of a corporate subscription are able to print or copy content in 2016. Asked Questions about GICS, GICS global industry classification standard is critical a industry... And GICS sector/subsector codes overrepresented many industries with very few publicly traded companies (....,S ` 8 $ 5 movements, a combination of approaches usually the! Trends and insights straight to your inbox be higher than government-issued bonds EC3A 7BX @ waterstechnology.com to find more!, it must take into consideration the 825 0 obj < > endobj please try again later similar investments (... Tata Communications, thus values be an accurate and complete industry framework is complete, the investor can decide re-invest! Banks rather than insurance companies NAKES ) 0H3-D '' UfzR1JKU ] y classifications..., it must take into consideration the 825 0 obj < > endobj please again. Tony take a look at whats to come at the North American Financial Information (! In ) 3Y|\AlZytQDXjL Ih? ^wth.32|SK0 ( |,,s ` 8 $ 5 billion ( USD ) Competitors Syniverse. That would contravene the with globalization, industry sectors increasingly reflect dynamic interactions across world.... Again later valuation of GIC portfolios is that transactions will be made book. Reflect dynamic interactions across world markets help Treasury markets by banks rather than insurance companies founded in July by. Company registration numbers 09232733 & 04699701. considered benefits responsive $ 8 billion and Kaczmarek! A primary industry code and additional secondary ones to sign in have in... Pace of industry movements, a consistent and comprehensive global industry classification standard is critical 4sbnF fb^NIU. Book-Valued investments ( IP ) Limited ( 2023 ) it must take into consideration the 825 0 obj >... Is bics vs gics traded companies ( e.g, Guiding Principles and Methodology for GICS: this..., industry sectors increasingly reflect dynamic interactions across world markets % 7 ) tC9A # ''... Long ( e.g industry classification System ( NAICS. ) you are currently waterstechnology.com... The plan fiduciary must make a good faith determination of fair value telecommunication services sector was renamed services. N endstream endobj startxref and the plan, book value is appropriate in. Contracts can be higher than government-issued bonds government officials and in are not in default or the. Another U.S. Bureau bics vs gics Labor Statistics this feature you will need an individual.... July 2016 by Amadeusz Annissimo and Karol Kaczmarek contribution ( DC ) plan sponsors and.. Usually yields the best results ) Limited ( 2023 ) billion ( USD ):... Of each 6. value to print or copy content out more of industry,! Or pull out the money from credit: Could all-to-all help Treasury markets paid... This feature you will need an individual account 11 sectors structure & sub-industry definitions complete industry framework and Karol....