<p>Tradeweb
Markets, a NASDAQ-listed operator of electronic marketplaces for money markets,
has launched a new market data service allowing the calculation of Indicative
Net Asset Values (iNAVs) for exchange-traded funds (ETFs) in real-time. </p><p>Tradeweb Launches iNAVs</p><p>According
to the press release on Wednesday, BlackRock already became the first issuer
of the ETF using iNAVs. Its iShares ETF in the Old Continent started to use the
market data service on 6 February 2023. </p><p>iNAVs are crucial
aspects of ETFs that provide insights into their current value based on the
real-time market price of the underlying components. These calculations are
carried out every 15 seconds during market hours, ensuring the availability of
up-to-date information to investors. By enabling the assessment of ETF pricing
fairness, iNAVs contribute to market transparency and empower investors to make
informed investment decisions. </p><p>The rising
popularity of ETFs has led to a growing demand for iNAV calculation services,
especially from institutional clients and ETF issuers. Tradeweb is well-positioned
to cater for this demand, providing investors with an efficient means of
evaluating their positions, optimizing trades, and improving Transaction Cost
Analysis (TCA).</p><p>“We are
excited to launch a comprehensive and reliable iNAV calculation service for
ETFs, using real-time prices from our leading trading platform,” Enrico Bruni, the
Head of Europe and Asia Business at Tradeweb, said.</p><p>“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.”</p><p>According
to Tradeweb, total volumes of its European institutional ETFs increased by 32%
year-on-year. The trend was mainly driven by fixed-income ETFs, despite the problematic
debt market conditions.</p><p>Watch the recent FMLS22 panel on back-office technology as a core of every fintech business.</p><p>Higher Income and ADV for
Tradeweb in 2022</p><p>Recently, Tradeweb
published its financial report for the fourth quarter and the entire year of 2022. <a href=”https://www.financemagnates.com/institutional-forex/tradeweb-ends-q4-2022-with-a-65-net-income-rise/” target=”_blank” rel=”follow”>The company reported $293 million in revenue for Q4,</a> increasing 5.8%
compared to the same period a year earlier. The
quarterly net income came in at $99 million and was boosted by an increase in
interest income and lower tax expanse related to changes in the company’s
deferred tax assets. Adjusted EBITDA also showed higher results and stood at
$154.7 million compared to $140.1 million in Q4 2021.</p><p>Additionally,
the NASDAQ-listed operator of electronic marketplaces published its yearly
average daily volume (<a href=”https://www.financemagnates.com/tag/adv/” target=”_blank” rel=”follow”>ADV</a>) for 2022 a month earlier. <a href=”https://www.financemagnates.com/institutional-forex/tradewebs-full-year-adv-grows-99-to-11trn-in-2022/” target=”_blank” rel=”follow”>The ADV reached $1.1
trillion</a>, representing a 9.87% year-over-year jump.</p><blockquote class=”twitter-tweet”><p lang=”en” dir=”ltr”>Our average daily trading volume for December 2022 was $1.02tn, which is up 11.6% year-over-year. Moreover, we reported strong volumes for Q4 and the full-year of 2022. Read more here: <a href=”https://t.co/3nZLPMfoK1″>https://t.co/3nZLPMfoK1</a> <a href=”https://t.co/GDizk0WMaA”>pic.twitter.com/GDizk0WMaA</a></p>— Tradeweb (@Tradeweb) <a href=”https://twitter.com/Tradeweb/status/1610980687489671171?ref_src=twsrc%5Etfw”>January 5, 2023</a></blockquote><p>However,
details shared by Tradeweb showed that its total trading volume and ADV for
December 2022 declined on a monthly basis by -9% and -10%, to $21.2 trillion and
$1.02 trillion, respectively.</p><p>At the
beginning of the year, the company <a href=”https://www.financemagnates.com/executives/tradeweb-veteran-billy-hult-takes-on-ceo-role/” target=”_blank” rel=”follow”>decided to appoint its long-time employee
Billy Hult as the CEO</a>. Hult replaces Lee Olesky, who retired on 31 December 2022.
Currently, he serves as the Non-Executive Chairman of the Board.</p>
This article was written by Damian Chmiel at www.financemagnates.com.
