Press release
Tradeweb Launches iNAV Calculation Service
BlackRock adopts Tradeweb iNAV prices across its iShares ETF suite in Europe LONDON--(BUSINESS WIRE)-- Tradeweb Markets Inc. (Nasdaq: TW), a leading, global
About this update from Tradeweb Markets Inc.
[{"type":"text","content":"\nBlackRock adopts Tradeweb iNAV prices across its iShares ETF suite in Europe\n\n LONDON--(BUSINESS WIRE)--\nTradeweb Markets Inc. (Nasdaq: TW), a leading, global operator of electronic marketplaces for rates, credit, equities and money markets, today announced it has launched a market data service to calculate real-time Indicative Net Asset Values (iNAVs) for exchange-traded funds (ETFs). BlackRock became the first ETF issuer to use Tradeweb iNAVs for its iShares ETF suite in Europe, which are publicly available via Bloomberg and Refinitiv as of February 6th, 2023.\n\n“We are excited to launch a comprehensive and reliable iNAV calculation service for ETFs, using real-time prices from our leading trading platform,” said Enrico Bruni, Head of Europe and Asia Business at Tradeweb. “Our breadth of product coverage, depth of price contributions, and timeliness of quotes position Tradeweb iNAVs to become the market’s preferred solution for intraday ETF evaluation, which could ultimately boost trading confidence in the ETF market.”\n\nInstitutional investors continue to adopt ETFs for their flexibility, intraday liquidity, easy access to diversified baskets of securities, and low trading costs. Institutional European ETF total notional volumes on Tradeweb have grown by an annualized rate of 32% over the last five years, a trend particularly driven by fixed income ETFs, even during challenging conditions for the underlying bond markets.\n\niNAVs provide intraday indications of an ETF’s value based on the market price of its constituents, and are calculated and published every 15 seconds during trading hours. Accurate, robust iNAVs can increase market transparency by helping investors to assess whether an ETF is being fairly priced. As a result of ETFs’ rising popularity, Tradeweb has experienced growing demand from ETF issuers and institutional clients for an iNAV calculation service that allows investors to efficiently evaluate their positions, make better-informed trading decisions, and enhance their Transaction Cost Analysis (TCA).\n\n“What makes Tradeweb iNAVs unique is the data source and quality, especially for fixed income ETFs,” said Lisa Schirf, Global Head of Data & Analytics at Tradeweb. “They are based on executable streaming bond prices, so they provide a more immediate and realistic view of the ETF market at any given po...