GLOBAL INDUSTRY CLASSIFICATION STANDARD - GICS

Standardized classification system for equities developed by Morgan Stanley Capital International (MSCI) and Standard & Poor's. The industry taxonomy, formed in 1999, is used by the MSCI indexes, including local and international stocks, and also a huge part of the professional investment management community. The ranking starts with 10 sectors, followed by 24 industry groups, 67 industries, and 147 sub-industries. Every stock categorized will be given a coding at all four levels.