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End of day pricing for IOB dividend futures
Turquoise has established a robust, impartial and market accepted solution for calculating end of day mark-to-market prices for dividend futures. There are two categories that end of day prices fall into: For the period after dividends have been announced by the DR Bank, Turquoise will use announced rates to mark-to-market daily
For the period before any announcement by the DR Bank, Turquoise uses data provided by the market leading service for dividend forecasting, Markit, to aid in the setting of end of day dividend prices.
MarkitMarkit is a provider of financial services information and data. Their dividend forecasting service was strongly recommended by market participants that helped in the design of Turquoise’s dividend futures. Markit’s dividend forecasts are calculated using a combination of the following inputs to create an objective, market accepted value:
Markit’s forecasts provide members active on Turquoise with a rigorous, objective, and widely trusted daily settlement price used for marking positions to market in the months prior to dividend announcements. Markit DisclaimerThe data provided by Markit is on “as is” basis and neither Markit, its affiliates nor any other person or entity that has participated in any respect in the development or collection of the data makes any warranty, express or implied, as to the accuracy, timeliness or completeness of the data or as to the results to be attained from the use of the data. There are no express or implied terms of merchantability or fitness for a particular purpose or use, and no reliance shall be placed upon any warranty, guaranty or representation made by Markit, its affiliates or any data provider. The data shall not be used, copied, redistributed or transferred without the appropriate licence from Markit. |
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