Data Provider: S&P Global Market Intelligence

In the fast-paced world of exchange-traded funds (ETFs), data is the foundation upon which investment decisions, product innovations and market integrity are built. S&P Global Market Intelligence plays a critical role in this ecosystem, serving as a trusted source for high-quality, accurate ETF data that support stakeholders across the industry.

Aggregating and Normalizing the ETF Landscape

With over two decades of experience, S&P Global Market Intelligence has cultivated deep relationships with ETF issuers, liquidity providers, asset managers and other key market participants. Its core mission in the ETF space is to aggregate, normalize, validate and distribute ETF data in a way that aligns with the evolving needs of the industry.

"Over the years, we’ve consistently invested in our people, procedures and products to stay aligned with how the ETF industry is growing and changing," Anthony Rayar , director and product lead of ETF management at S&P Global Market Intelligence, shared in an interview. "Our role is foundational—ensuring accurate and timely data that power a wide range of workflows."

Key Services for Market Participants

S&P Global Market Intelligence offers several essential services that enable better ETF construction, evaluation and execution. These include:

• ETF Composition Data Sets: Daily holdings data with more than 10 years of historical depth, offering insight across global ETFs and asset classes.
• Portfolio Composition File (PCF) Construction: A critical tool for issuers in the ETF creation and redemption process, enabling transparency and accuracy.
• Intraday NAV (INAV) Service: Delivers second-by-second fair value NAV estimates, helping to guide real-time trading decisions and improve execution.

These services are widely used by ETF issuers, liquidity providers and institutional investors to understand product exposure, compare ETFs, execute trades efficiently and meet risk and compliance requirements.

Empowering Decisions Through Transparency

At the heart of S&P Global Market Intelligence’s approach is a commitment to transparency. By providing normalized, standardized and validated data, the firm enables clients to gain a “golden copy” of ETF compositions—essential for informed decision-making.

"Transparency is the common thread running through all of our services. It helps empower better investment choices, enhances the client experience and ultimately leads to improved trading decisions," Rayar emphasized.

For first-time ETF issuers, in particular, these services are invaluable. The combination of portfolio construction tools and intraday NAV calculations provides clarity on pricing, execution and strategy—elements that are crucial in launching successful ETF products.

Conclusion

S&P Global Market Intelligence isn’t just a data provider—it’s a vital partner in the ETF journey. From helping clients brainstorm new ETF strategies to delivering the tools needed for accurate pricing and fair valuation, the firm ensures that transparency and precision remain at the core of every ETF decision.

As the ETF industry continues to expand and evolve, S&P Global Market Intelligence stands ready to support the ecosystem with the data infrastructure it needs to thrive. S&P Global Market Intelligence was also a finalist in the “Best Service Provider of the Year” category for the 2025 etf.com Awards.