US market data technology firm Iverson Financial Systems has added new functions to its index data service, Global Index Monitor (GIM), including an Index Family Indicator and a Total Return Index Value field.
Iverson says the new functions were requested by its clients and will expand functionality for asset managers and other buy-side users.
The new Total Return Index Value field, which incorporates the effects of dividends on index values, is particularly useful to buy-side users who rely on index data for benchmarking and performance attribution.
The upgraded GIM service also includes a new Index Family Indicator - a parent index of each category of indices which can be used to map indices internally.
GIM also provides all available Cusip, Sedol and Isin identifiers for every index and issue, allowing clients to choose the identifier they want to use and also improving their ability to cross-reference and map individual issues to their internal feeds. Furthermore, a constituent weighting indicator specifies the constituent firm's component weighting relative to the overall index value.
Kent Lazarus, Iverson's president, says: "Our existing customer base is already enthusiastic about the improvements, and we see great potential in expanding the service's reach into the buy side as well."