Indicative Net Asset Value (iNAV and also known as IOPV or iiv) calculation service provides quality and transparent information to ETF investors so they can efficiently evaluate their positions, make better-informed trading decisions, and enhance their Transaction Cost Analysis (TCA).
Globally, ICE supports over 4,000 iNAV calculations to the leading financial institutions in the ETF industry with over $9 trillion in AUM calculated daily. As the industry evolves and institutional investors continue to adopt ETFs, ICE plays an active role to support iNAV strategies.
Flexible range of services
Actively managed ETFs, semi-transparent ETFs, leverage ETFs, ETNs, fund of fund ETFs and more.
iNAV destinations
Market data vendors, order / execution management systems and global exchanges.
iNAV users
ETF capital markets, authorized participants, custodians, compliance, ETF institutional investors, registered investment advisors.
ICE Data Indices is a leading provider of iNAV calculation services globally
ETF inputs and coverage
- iNAV calculations use intraday market data across a broad range of asset classes from around the globe
- Global fixed income leverages ICE’s Reference Data and Continuous Evaluated Pricing (CEP TM)*
- Intraday coverage for global equity, FX rates and other OTC products
- Real-Time Fair Value Information Service pricing provided for global funds when local market of a component is closed
Calculations
- Up to every second, 23.5 hours, 6 days per week
- Ability to calculate IIV’s for exchange traded notes (ETNs)
- Global Support Team – dedicated resources in U.S., Europe and Asia at all hours of day
Delivery and dissemination
- ICE Data Global Index Feed (GIF) Consolidated Tape B
- Fed to over a thousand end user firms and hundreds of thousands of end users
- Able to disseminate to certain listing exchanges in the U.S.
ICE Data Indices global support
Around the globe and around the clock
Operations
- Operations and client support available 24 hours a day, 7 days a week
- Global staff members located in the U.S., Europe and Asia
Support resources
- Dedicated technology teams to support calculation systems
- ICE technology and operations teams to support infrastructure
Relationship management
- Sales and account management in each region
ICE Data Indices
As an index provider with a powerful platform, ICE Data Indices offers an extensive list of indices across all asset classes with a dedicated team that has a combined expertise and experience of nearly 60 years in both the development and maintenance of indices.
ICE Data Indices offers our expertise in the index business to help you create, customize, brand and partner with us to meet your index needs. Supported by our team of data scientists and ICE’s multiple exchanges, ICE continues to integrate innovation and technology to help meet the needs of our clients – from research, data, pricing, index solutions, and trading.
On Demand Webinar
Unlocking the power of iNAV: Intraday Valuation Services for Smarter Investing
Watch this on demand webinar on iNAV (indicative Net Asset Value) calculation services and discover how timely transparency can transform the way you and your clients view investment products.
Related insights
Liquidity metrics for bond indices offer rich opportunity
ICE’s Liquidity Metrics provide a deeper understanding of tradability across fixed income segments and can be used to inform index design.
Indexing: the next evolution
Varun Pawar, ICE Fixed Income & Data Services’ Chief Product Officer, spoke with The DESK about the latest trends in funds management, the use of AI, and how index providers are keeping pace with growing demand for customisation.
Three things to watch in ETFs in 2025
2024 was a banner year for exchange-traded funds (ETFs), with the investment vehicle seeing record annual inflows and total net asset values reaching an all-time high.