# March 2023 GICS Reclassification: Payment Networks Enter Financials

Source: https://historyofmarket.com/fin/fin-reclass/
Language: en
License: data CC BY 4.0, text © History of Market — cite "History of Market (historyofmarket.com)" and link the source page. Terms: https://historyofmarket.com/license/
Section: History of Market › Financials › March 2023 GICS Reclassification: Payment Networks Enter Financials

**2016 Real Estate Spinoff** — Structural separation of REITs into an independent 11th GICS sector, transforming financial sector composition.

S&P and MSCI reclassified payment technology leaders—including Visa, Mastercard, and PayPal—from Information Technology to Financials, introducing ~12% of higher-multiple digital payments weight into XLF.

## What this page answers

This static page is built to answer searches for GICS · 2023-03-17 Reshuffle. It summarizes the live dataset behind the March 2023 GICS Reclassification: Payment Networks Enter Financials panel and links to the full interactive chart.

The data is refreshed by the History of Market pipeline and published as a stable JSON endpoint for research, citation, and AI-agent use.

## Data & Source

[GET /api/fin/reclass-2023.json](https://historyofmarket.com/api/fin/reclass-2023.json) — Canonical dataset endpoint.

Exchange closing prices · Company filings · Robert Shiller · FRED · NBER.

## FAQ

### Where does this data come from?

History of Market combines public market and macro datasets — exchange closing prices, company filings, Robert Shiller, FRED, NBER, and the UBS Global Investment Returns Yearbook (Dimson–Marsh–Staunton). The exact endpoint for this panel is linked below.

### How often is it updated?

Daily-tier datasets refresh after the U.S. market close, with a broader weekly refresh each weekend. The timestamp shown on this page comes from the JSON payload.

### Can I use the data?

Yes, for research and education with attribution to History of Market. Upstream data sources retain their own terms.

## Related charts and reading

- [September 2018 GICS Reclassification: The Communication Services Shift](https://historyofmarket.com/xlk/xlk-reclass/) — Information Technology
- [March 2023 GICS Reclassification: Target, Dollar General and Dollar Tree Move to Staples](https://historyofmarket.com/consumer/consumer-reclass/) — Consumer

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Data: https://historyofmarket.com/api/fin/reclass-2023.json
Machine index: https://historyofmarket.com/llms.txt