The FTSE MiB-40 was created in September 2004, superseding the MiB-30. At the time the index was overseen by the Standard & Poor’s Group, however in June 2009 it was taken over by the FTSE Group, which is also 100% owned by the Italian Borsa Italiana’s parent company the London Stock Exchange Group. Prior to the transfer the index was known as the S&P/MiB. Like many other smaller global indices, the FTSE MiB has a heavy weighting in the financial services and banking industry.