Disgruntled businesses have hit out at FTSE International, theme of the UK's biggest distributors. regulatory outfit of the UK Stock Exchange, for failing to include them in the recently launched IT subsector.
The subsector, which is part of the support services index, was launched on 2 January and lists 88 companies, including networking distributors Azlan and Ilion.
However, the sector has been defined to include software distributors and IT consultants and leaves out companies such as Datrontech, Ideal Hardware and Psion.
James Wickes, managing director of Ideal Hardware, said: 'It's a situation which should be rectified. Since Azlan and Ilion are included, they should either put us in or take them out.'
Manager of corporate communications at Psion Gareth Hughes stated that because the company was a hardware manufacturer it was included in the electrics and electronics sector of the UK index.
However, he said: 'Just because we make our own products does not mean that Psion is not a hardware company.'
The FTSE Actuaries Industry Classification Committee, which finally agreed to an IT subsector in December last year, had already run into problems over a working definition of the index.
Mark Mulford, CEO at Datrontech, said: 'In the distribution index, there are a lot of companies of a diverse nature. Inclusion in the IT subsector would give a clearer view of IT.'
A representative at FTSE International said: 'These things are not that cut and dried, but we will be reviewing the situation in March.'
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