Source has subscribed to Interactive Data’s ETF Services and will now provide indicative pricing updates to investors every 15 seconds during US trading hours for the Source EURO STOXX 50 ETF (ESTX).
Recently launched in the US market, the Source EURO STOXX 50 ETF seeks to replicate the EURO STOXX 50 Net Return Index, which tracks blue-chip stocks in the Eurozone. The benchmark consists of 50 companies from 12 Eurozone nations.
“We are always eager to partner with the best service providers to connect investors with market-driven solutions that meet their needs. Our relationship with Interactive Data is an extension of this commitment,” says Peter Thompson, president of Source. “For the first time in a US-listed ETF, investors in an international equity ETF have access to an indicative price that includes real-time fair value adjustments after the time of local market close from an independent, recognised third party. We are proud to be able to help investors stay ahead of the curve.”
Interactive Data uses a bottom-up methodology to determine and incorporate the relationships between price changes in local markets and various factors available during US market hours. It analyses fair value information for each covered equity security using a four-step process, and applies strict quality controls. Through its Exchange Traded Fund and Index (ETFI) services division, Interactive Data generates and disseminates IOPV calculations for ETFs listed on exchanges across the world.
“Trading strategies are only as good as the underlying data that investors have at their fingertips, and indicative pricing including Real-Time Fair Value Information Service inputs is designed to deliver the most up-to-date pricing data to help investors make well-informed investment decisions,” says Rob Haddad, senior director of evaluated services at Interactive Data. “Our service makes it easier for investors to quickly pull up pricing data that reflects current market conditions for international ETFs, which changes the ETF space for the better.”