About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Markit Integrates Datasets to Deliver Enhanced iNAV for ETPs

Subscribe to our newsletter

Markit has integrated its fixed income evaluated pricing and fair value data services with exchange traded fund data to deliver an enhanced intraday net asset value (iNAV) service for exchange traded products (ETPs). The service is available immediately and is designed to improve transparency around ETP pricing.

The company has offered an iNAV service for ETPs for towards a year – this will not be withdrawn – but as ETPs have become more prolific and sophisticated, it decided to take a step up and provide an enhanced iNAV service providing improved transparency around the fair value of complex, multi asset class, globally exposed ETPs.

The enhanced service draws on not only securities pricing data from global exchanges, but also data from the company’s fixed income evaluated pricing services, which are created using dealer contributions that provide independent pricing, transparency and liquidity data for over 2.3 million instruments, and its fair value pricing data, which calculates the fair value of an exchange traded fund outside trading hours using the correlation between 40,000 global equities, 80,000 global bond prices and over 30 market factors.

The iNAV service came to market this week and can be applied to over 5,100 ETPs that are tracked by Markit. It is produced every 15 seconds and is published to major stock exchanges and market data platforms.

Mark Schaedel, managing director and head of data services at Markit, explains: “The new iNAV service helps issuers provide greater pricing transparency amid increased regulatory scrutiny of ETPs. The integration of our evaluated pricing and fair value services provides the fuel necessary to enable continuous iNAV updates, even when underlying securities are illiquid or not trading.”

Responding to criticism in the market that iNAVs for ETPs are no longer fit for purpose beyond vanilla products, Marc Knowles, director of ETP at Markit, adds: “Before we introduced the new service, iNAV providers were generally pricing underlying illiquid instruments or instruments on markets that were closed using the last price available to them. In some cases, they were using a proxy such as a future. Markit was doing this too and using futures as a proxy where possible. The new service is, I think, the first to use our fixed income evaluated pricing and fair value datasets to take the iNAV to a new level of sophistication and meet calls for more transparency around fair value pricing of ETPs.”

Knowles says Markit is talking to prospective users of the enhanced iNAV service and expects to attract both existing and new clients as the service will support a broader set of clients tackling the challenges of more complex ETPs.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Hearing from the Experts: AI Governance Best Practices

9 September 2025 10:00am ET | 3:00pm London | 4:00pm CET Duration: 50 Minutes The rapid spread of artificial intelligence in the financial industry presents data teams with novel challenges. AI’s ability to harvest and utilize vast amounts of data has raised concerns about the privacy and security of sensitive proprietary data and the ethical...

BLOG

FinScan Data Quality Chief Seeks to End Compliance Failure Excuses

The dog ate my homework. The train was delayed. The postman mislaid your birthday card. At one time or another, we’ve all used a weak excuse to forestall censure for an error of behaviour or judgement. And mostly, we’ve got away with it. In financial regulatory compliance, however, excuses won’t wash. Especially when it comes...

EVENT

RegTech Summit London

Now in its 9th year, the RegTech Summit in London will bring together the RegTech ecosystem to explore how the European capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...