"Consultants on management and information systems"). More recently, in English speaking countries it is taken to stand for "Consultants to Government and Industries"). Markets and corporate structure CGI has an international client base, with large institutional clients in a wide array of industries and markets. The United States made up 29% of their client base as of March 2015, while Canada was the second-highest percentage at 15%. The majority of CGI's remaining contracts were in Europe (around 40%), with 15% in the rest of the world. CGI has a primary listing on the Toronto Stock Exchange and is a constituent of the S&P/TSX 60. It has a secondary listing on the New York Stock Exchange. As of March 2015, CGI made 42% of its revenue through government contracts. CGI Federal CGI Federal is a wholly owned subsidiary of CGI Inc. CGI Federal has partnered with U.S. federal agencies to provide IT services in defense, diplomacy, intelligence, healthcare, environment, homeland security, justice, treasury and more. CGI Federal has annual revenue exceeding US$1 billion. In 2018, CGI Federal opened an Innovation Center in Arlington, Virginia, to provide a dedicated collaboration space for agency and CGI experts to jointly explore the potential of new technologies. Products and services Originally CGI focused its products and services on IT consulting, and the company later branched into outsourcing, software development, and systems integration, among other industries. At the end of 2014, CGI earned 52% of its revenue from providing outsourcing services (specifically through IT services and to a lesser degree, business process services) and 48% of its revenue from systems integration and consulting. Services CGI supplies in relation to business consulting include business intelligence, business transformation, change management, cyber security, CIO advisory services, digital enterprise, as well as other industry-specific services. In relation to business process services, CGI offers customer service and billing, payment services, enterprise services, collections, engineering and logistics, document and data services, and a BPS service launch. CGI provides full IT outsourcing services. The following is an overview of services provided by CGI as of 2015: Application services Business consulting Business process services Infrastructure services IT outsourcing services Systems integration services CGI also develops products and services for markets such as telecommunications, health, manufacturing, oil and gas, posts and logistics, retail and consumer services, transportation, and utilities. Clients include both private entities and central governments, state, provincial and local governments, and government departments