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Interactive Data inks Vanguard ETF deal
12 July 2013
Firm to provide iNAV data for Euro-domiciled ETFs
Interactive Data has announced it is to provide intraday Indicative Net Asset Value (iNAV) calculations for Vanguard's European-domiciled ETFs.]
The firm, which has been active in the iNAV calculation sector since 2007, generates data on ETF covering a wide range of ETF basket constituents, including equities, fixed income, commodities, swaps and other derivatives. It said its data inputs would provide useful information on ETFs composed of international equities listed in markets that are closed at the time the ETF is trading on an exchange.
Rob Haddad, senior director, Interactive Data, said: “For certain equity ETFs, there can be times during the day when the ETF’s underlying equities are listed in international markets that are closed while the ETF continues to be active on an exchange.
“Our approach includes an indication of the impact of real-time market activity on the ETF’s underlying basket of securities following local market closing times as an input to the iNAV calculations.”
Axel Lomholt, head of international product at Vanguard, added: “We are pleased to work with Interactive Data Corporation to utilise iNAV calculations on Vanguard's European ETFs.
"This addition is an innovative step to provide greater transparency around ETF market prices for end investors."