Thomson Reuters Business Classification (TRBC)

TRBC is the most comprehensive, up-to-date and detailed sector and industry classification system available

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TRBC classifies the primary business activity of over 72,000 listed companies from 130 countries into a five level hierarchy. Dedicated, local language speaking analysts utilize company filings, Reuters news and Thomson Reuters corporate actions services in order to assign and maintain a company's activity.

TRBC helps you identify, monitor and analyze companies and industries across global markets and is the ideal tool for benchmarking, peer comparison and navigation.

TRBC is the basis for Thomson Reuters sector indices, and is also available for investors and managers looking to build custom sector and thematic indices.



Recently updated hierarchy in 2012, reflecting changing global consumer trends and markets
Allows investors to identify and analyze emerging industries, such as Smartphones & Handheld Devices, Uranium and Renewable Energy
Recent introduction of a highly granular fifth level of analysis, with "Activities" such as Biodiesel; Ratings Agencies; Luxury Vehicles and Search Engines
Allows for the identification and analysis of niche industries, and the creation of thematic benchmarks or investment strategies
Local language speaking analysts perform industry assignments according to a transparent methodology, rather than using automated processes. Continual review of corporate actions, significant developments and news items.
Company business activity is quickly identified and when required, changed immediately, ensuring the classification is up-to-date.
Coverage of stock markets in all Developed, Emerging and Frontier markets
Offers an alternative to local exchange classifications in many emerging and frontier markets. Comprehensively classifies all listings to an internationally comparable standard, allowing for company comparison with international as well as domestic peers
A Market oriented schema, classifying companies into sectors and industry based on the consumption of products and services rather their production
Clearly identifies to investors and analysts the major source of a company's income and consumer demand, allowing them to best understand their performance

TRBC Structure and Review process

TRBC Structure

  • 10 Economic sectors
  • 28 Business sectors
  • 45 Industry groups
  • 136 Industries
  • 837 Activities

Sector Review:
Thomson Reuters Business Classification schema is reviewed every year. Company assignments are reviewed quarterly when earnings are filed.

Since its introduction in 2004 the TRBC steering group, consisting of internal Thomson Reuters and external business stakeholders has met regularly to review the structure of the scheme. The 2008 review produced recommendations to revise the scheme, with revisions effective from August 2009. The steering group meets on a quarterly basis to review emerging issues and solicit feedback from the investment community.

Every company in the TRBC universe is reviewed at least annually to determine if the assignment remains valid or whether the company has changed business model and/or business segments have changed in importance either organically or through acquisition/divestment. Over 50,000 companies are therefore reviewed every year by our dedicated content operations. Our analysts review the detailed financials of each business segment, update company descriptions and review any corporate activity that may have impacted company operations. We have a sophisticated alerting mechanism for corporate actions using various Thomson Reuters databases to ensure that all activity that could impact industry assignment is considered. Please see our methodology document for more details.