Goldman Sachs – Virtu and MarketAxess ETF analytics software receives backing from ETF issuers
Virtu Monetary has confirmed it has onboarded two wealth administration companies to its just lately launched eNav exchange traded funds (ETFs) analytics software.
Charles Schwab Funding Administration and WisdomTree Asset Administration have develop into shoppers of the service, which calculates the bid and ask costs of ETFs primarily based on their underlying parts and/or proxy belongings to supply better transparency for ETF valuations.
The eNAV ETF analytics options the factitious intelligence powered algorithmic pricing engine for company and rising bonds, Composite+, from MarketAxess after each companies entered right into a partnership final 12 months.
Virtu and MarketAxess teamed as much as present their mutual consumer base with buying and selling instruments and entry to international ETFs and stuck earnings securities in April 2019.
Rolled out within the first quarter of 2020, the eNAV ETF service helps pre-trade price discovery and execution session, liquidity provision, post-trade transaction price evaluation, and auto-execution and crossing.
“We are excited that major ETF issuers understand and value the many benefits eNAV delivers. By joining forces with MarketAxess we are empowering issuers to better understand market value and reliably monitor their ETFs in support of high quality and efficient execution by their investors,” stated Doug Cifu, co-founder and CEO of Virtu Monetary.
“As long-time advocates for transparency, we believe eNAV will provide even greater clarity in ETF secondary market pricing and become the industry standard.”
