How often is the data updated?
Answer
Our Market Indices and Valuation Analytics are computed on a monthly basis, whilst our TICCS® Benchmarks are computed on a quarterly basis. The input data is updated accordingly as new data becomes available from the following sources:
Company-level financials (audited accounts data) are updated once a year, once the accounts become available. Until then, any accounting data used in asset pricing models (e.g. the size factor i.e. total assets) is simply rolled forward. When accounting data is available for two consecutive years, it is linearly interpolated between the two dates.
Interest rates and the related risk-free term structures are updated and computed each month.
Foreign exchange rates are updated each month.
New secondary market transaction prices and new infrastructure debt credit spreads are collected each month.
Things to consider
When companies cease to report their financials for more than two years, they are removed from the index universe, from that point onwards.
Different companies report on different end-of-year dates, hence new financials data becomes available in the Index Universe every quarter for some firms.
Related topics
1.5 Minimum Data Collection Requirements
1. Infrastructure Asset Pricing Approach