Markit to offer Euronext enhanced index service
Markit Dividends and Index Management (formerly DaDD), will include Euronext's newly extended range of indices in its service.
Euronext's enhanced index information now offers the CAC 40, BEL 20, AEX and PSI series, and will include "T+1" indices where the overnight changes are reflected in the index composition. Previously, Euronext provided "T" indices that Markit adjusted when appropriate to reflect the overnight changes such as corporate actions.
Markit Index Management consolidates the latest constituents of over 8,500 global equity indices and ETFs. Each index goes through a number of checks and validations before being released to clients via a single XML feed. Markit provides users with the information required to calculate accurate fair values and dividend points for any index or ETF up to four years ahead.
This service is used by many of the major global investment banks, equity derivatives traders, asset managers and hedge funds. Euronext has recently extended its use of Markit Dividends within its equity options valuations models and margining systems to all its exchanges.
John Price, Managing Director and Head of Markit Dividends and Index Management said: "All index users will welcome Euronext's enhancement to its index service. Markit gives users easy access to any global index through a single interface. The availability of Euronext index data and the underlying dividend forecasts in the same feed provides an unprecedented level of information and access. We are also pleased that Euronext has extended the use of our dividends to all its exchanges."
Background notes: Founded in 2001, Markit is an independent enterprise with which the world's leading financial institutions and energy traders work strategically to create price transparency.
Markit currently enjoys the sponsorship of 13 financial institutions who manage assets in excess of USD 10 trillion, and data contribution relationships with over 45 dealing firms. Markit has designed, launched and acquired over 20 financial data services which are now used by over 300 institutions globally. Areas of product expertise and service include an independent valuation perspective on credit default swaps, syndicated loans and OTC derivatives (credit, equity, FX, rates, energy, power, metals and structured products), as well as dividend forecasting and index and ETF management.
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