How we cover markets

What We Cover

The Global Banking & Finance Review® Markets platform contains a broad reference directory covering thousands of companies, securities and other financial instruments across multiple countries and exchanges, together with cryptocurrency reference pages. The number of instruments available through the Markets platform may change as securities are listed or delisted, companies change identifiers, exchanges and countries are added or removed, cryptocurrency rankings change or data availability changes.

The presence of an instrument, company, security, cryptocurrency or other asset within the Markets directory does not mean that Global Banking & Finance Review® has actively reported on, analysed, recommended, endorsed or formed an opinion about that instrument.

The Markets reference directory and our automated editorial reporting universe are separate.

Our automated market-reporting pipeline follows a more focused universe of instruments. At present, this includes instruments associated with the S&P 500, FTSE 100, India’s Nifty 50 and DAX, together with a separately maintained selection of major cryptocurrencies based on factors including market value and turnover.

The monitored reporting universe may be reviewed, expanded, reduced or otherwise amended as markets, index membership, liquidity, data availability and our reporting capabilities evolve.

Tracking or displaying an instrument does not automatically result in an article being published about it.

When a Market Movement Becomes an Article

A price movement alone is not automatically considered a story.

As a general reporting trigger, a movement of approximately 2% or more in a share, ETF or index, or 5% or more in a cryptocurrency, may cause our automated system to examine that movement for possible coverage.

Crossing one of these thresholds starts an investigation. It does not automatically result in publication.

The threshold is a reporting mechanism only. It is not a recommendation, investment opinion, trading signal, forecast, rating, indication of value or suggestion that Global Banking & Finance Review® considers an instrument attractive or unattractive.

Both upward and downward market movements may be reported.

Where we can identify a credible and sufficiently verified reason for a market movement, a report may explain that reason and cite the supporting sources.

Where we cannot establish a sufficiently supported explanation, we do not guess, assume or manufacture a reason. The report may instead describe only what can be established from the market data, including what moved, by how much, over what period and, where appropriate, the relevant highs, lows and timeline of the movement.

For exchange-traded securities, such a factual timeline may show the movement session by session. For continuously traded cryptocurrencies, it may show movements at hourly or other appropriate intervals.

A report describing a market movement does not mean that Global Banking & Finance Review® believes the movement will continue, reverse or produce any particular future outcome.

How We Establish Why a Market Moved

Price movement and cause are treated as separate questions.

Global Banking & Finance Review® does not assume that a financial instrument moved because of the most prominent news story, market commentary, analyst statement, social-media discussion, rumour or event occurring at approximately the same time.

Where an article states or materially suggests that an event caused, contributed to or was associated with a market movement, supporting evidence is required.

For company and securities coverage, a causal explanation should normally be supported by at least two credible and genuinely independent sources, with at least one being a primary or authoritative source wherever reasonably available.

Primary or authoritative sources may include company announcements, regulatory filings, securities-exchange notices, regulator announcements, central-bank statements, government publications, official economic statistics, court documents and other direct institutional disclosures.

Credible secondary sources may include established news agencies, licensed news wires, recognised financial publications and other independently produced reporting capable of reasonable verification.

Two websites reproducing substantially the same syndicated report or originating source should not be treated as two genuinely independent sources merely because the information appears on separate websites.

Rumours, anonymous social-media claims, unsupported market speculation, unattributed commentary or the fact that two events occurred at approximately the same time are not sufficient on their own to establish causation.

Where a causal statement is made, the supporting source should be attached to or clearly associated with the relevant factual assertion.

The requirement for multiple independent explanatory sources applies when we are making or reporting a causal or explanatory claim. A report based solely on verified market-price data and making no claim about why a movement occurred may rely on the applicable market-data source without manufacturing additional explanatory sources merely for the purpose of publication.

At present, our automated causal reporting of individual listed-company movements is principally focused on US-listed companies, where current company and regulatory disclosures can be checked against publicly available SEC and other authoritative records.

Where the available evidence does not meet our required standard, we report what moved rather than asserting why it moved.

The absence of a confirmed explanation does not mean that no cause existed. It means that Global Banking & Finance Review® was unable to verify one to the standard required for that report at the time of publication.

Measuring Market Movements

For exchange-traded securities, movements are generally measured using comparable closing observations in the currency in which the relevant instrument trades unless otherwise stated.

Prices are not automatically converted into another currency when calculating the percentage movement of an instrument.

Unless expressly stated otherwise, exchange-traded market movements are normally based on the applicable regular trading-session observations supplied by the relevant market-data provider. Pre-market, post-market or other extended-hours activity may be reported separately where appropriate and should not automatically be assumed to form part of a regular close-to-close calculation.

Percentage changes are calculated using the relevant market observations stored by our reporting system.

Displayed figures may be rounded for readability. Calculations performed by readers using rounded figures displayed within an article may therefore differ slightly from calculations performed using the full underlying figures.

Market holidays, different exchange closing times, shortened sessions, suspended trading and other market-specific circumstances may affect the measurement period.

Timestamps refer to the applicable market-data observation and do not necessarily represent the exact time at which every underlying transaction occurred.

Where possible, automated market reports identify the relevant measurement period or timestamp.

Corporate Actions and Exceptional Events

Our automated reporting process seeks to avoid presenting purely mechanical price changes as ordinary market movements.

Movements caused or materially distorted by events such as share splits, reverse splits or consolidations, ex-dividend adjustments and other corporate actions may therefore be suppressed or treated separately where an ordinary price comparison would be misleading.

Reports may also be withheld, delayed or treated differently where a movement is affected by trading suspensions, delistings, mergers, acquisitions, rights issues, ticker or identifier changes, exceptionally low liquidity, exchange disruptions, market-data interruptions or other circumstances that make a standard comparison unreliable.

Historical and comparative price information may be adjusted by the applicable data provider to reflect corporate actions. Different data providers may apply different adjustment methodologies and may therefore display different historical values.

Where no reliable comparable previous observation exists, including certain newly listed, relisted or renamed securities, percentage-movement reporting may be withheld until a meaningful comparison becomes available.

Instruments considered too thinly traded for the reported movement to be meaningful may also be excluded from automated market-movement reporting.

Cryptocurrency Coverage

Cryptocurrency markets operate continuously and do not have a universal official daily closing price. Cryptocurrency movements are therefore measured between defined point-in-time observations.

Our normal reporting process seeks to compare observations approximately 24 hours apart and, where possible, at approximately the same time each day.

However, the actual measurement period stated in the article always takes precedence.

If a scheduled observation is missed, delayed, unavailable or collected at a different time, the report may measure a shorter or longer period. A report may therefore describe a movement over 13 hours, 17 hours, 24 hours or another specified interval.

We do not describe a shorter or longer interval as a 24-hour movement merely because 24 hours is the normal reporting interval.

Cryptocurrency reporting generally focuses on larger and more actively traded assets according to factors including market capitalisation and turnover. Stablecoins may be excluded from automated percentage-movement reporting because their intended price behaviour differs from ordinary cryptocurrencies.

The number of cryptocurrencies displayed within the Markets reference directory may therefore be greater than the number included in an automated cryptocurrency report.

Where market capitalisation is calculated within an automated cryptocurrency report, it may be derived by multiplying the recorded asset price by the circulating-supply information applicable to that observation.

Cryptocurrency prices can vary between exchanges, trading venues and data providers. A reported cryptocurrency price may represent an aggregated, reference or provider-calculated market price rather than a price executable on any particular cryptocurrency exchange.

Market-capitalisation calculations depend on circulating-supply information supplied by third parties. Circulating-supply figures may be estimated, revised or corrected and may differ between providers.

Token migrations, redenominations, forks, wrapped assets, exchange interruptions, abnormal liquidity conditions and other cryptocurrency-specific events can also affect comparability.

Because cryptocurrencies trade across numerous venues and generally do not have a disclosure framework equivalent to the regulated disclosure system applicable to many listed companies, our automated cryptocurrency market reports ordinarily focus on what moved rather than asserting why it moved.

Separate editorial reporting may discuss cryptocurrency news, events and market developments where statements can be appropriately sourced, verified and attributed.

How Automated Market Reports Are Produced

Parts of Global Banking & Finance Review® Markets coverage are produced through an automated publishing pipeline.

Automation may be used to receive and process market data, calculate percentage movements, identify movements satisfying predefined reporting criteria, prepare factual market summaries, compare current and previous observations, verify numerical information against stored data, review available source information and prepare reports for publication.

Automated production does not mean that a report constitutes investment research, financial advice, investment advice or an investment recommendation.

Articles generated through the automated Markets system should disclose their automated nature and, where applicable, whether a human editor reviewed the report before publication.

Some automated market reports may therefore be published without individual human pre-publication review after the applicable automated publication checks have been satisfied.

Human editors may subsequently review, update, correct, clarify or withdraw automated reports where appropriate.

The use of automation does not remove our responsibility to investigate and address identified factual errors.

Checks Applied Before Publication

Automated market reports must pass the applicable publication checks before publication.

Numerical figures appearing in the text are re-derived or compared against the stored market-data snapshot from which the report was produced. Where a material numerical figure cannot be reconciled with the underlying market-data snapshot, publication should be blocked.

Where an article states a reason for a market movement, the applicable sourcing requirements must be satisfied.

Where causation has not been established, the report should not introduce unsupported language explaining why an instrument moved.

Sources supporting causal or other material external factual claims should be independently accessible where reasonably possible.

Automated reports are checked for recommendation language. The automated Markets reporting system should not instruct readers to buy, sell or hold an instrument or issue a Global Banking & Finance Review® proprietary investment rating, trading signal or price target.

Recent articles are also checked to reduce unnecessary publication of substantially repetitive reports.

Failure of a required publication check may prevent publication.

Market Timelines, Highs and Lows

Where no sufficiently supported explanation for a movement can be identified, a report may describe that movement through a factual market timeline.

For exchange-traded securities, this may include session-by-session information where available. For continuously traded cryptocurrency markets, it may include hourly or other interval observations.

A stated high or low refers to the highest or lowest relevant observation available within the dataset and measurement period being used for that report.

It should not automatically be interpreted as the absolute highest or lowest transaction executed across every exchange, broker, trading venue or cryptocurrency platform worldwide.

Headlines and Market-Movement Language

Words such as rises, falls, gains, declines, advances, drops, climbs, slips, strengthens or weakens describe observed market movements.

They are descriptive terms and do not constitute an opinion about whether an instrument is a good or bad investment.

Similarly, describing an asset as a leading gainer or faller refers only to its measured performance within the relevant comparison group and measurement period.

A headline reporting that an asset has risen, fallen, crossed a price level, reached a high or low or experienced unusual market activity is not a recommendation, forecast, investment opinion or trading signal.

Where Market Data Comes From

Market information displayed by Global Banking & Finance Review® may come from different sources depending on where and how the information is displayed.

Prices and reference information used to produce automated market reports come from third-party market-data providers. The relevant market-data provider may be identified or credited within the applicable article.

Prices may be delayed, and where relevant the delay or applicable timestamp may be disclosed.

Interactive charts and certain prices or reference information appearing on individual Markets instrument pages may be displayed through TradingView technology and data sources made available through that service.

The data displayed on an instrument page may therefore differ from the market-data observation used to generate a Global Banking & Finance Review® automated article.

Index levels displayed through third-party charting services may be licensed by the relevant index owners. Global Banking & Finance Review® does not independently calculate or publish proprietary index levels merely because an index is displayed on the website.

Certain exchanges or instruments may not be available for embedded charting through the applicable chart provider. In such circumstances, an instrument page may contain an external chart link or other available reference information instead.

Information concerning the possible reason for a market movement may be obtained from company announcements and filings, exchanges, regulators, central banks, governments, official statistical agencies, courts, licensed news services and other credible sources.

Different data providers may use different exchanges, aggregation methods, timestamps, reference prices, corporate-action adjustments, calculation methodologies and refresh schedules. Prices displayed by different providers at apparently similar times may therefore differ.

ETF and Index Information

An index level represents the methodology and components of the relevant index and should not automatically be treated as the return available from an investable product attempting to track that index.

The market price of an exchange-traded fund may differ from its underlying net asset value.

Fees, distributions, tracking differences, liquidity, currency effects and other factors may cause the performance of an ETF or other investment product to differ from the performance of an underlying index or reference benchmark.

Delayed Data, Third-Party Data and Other Limitations

Financial-market information is inherently time-sensitive.

Prices may change immediately after publication.

Market information may be delayed, incomplete, unavailable, incorrectly transmitted, subsequently corrected or restated.

Markets operate in different time zones and according to different trading calendars. Exchanges may observe different holidays and trading-session conventions. Cryptocurrency markets generally operate continuously.

Market-data providers, exchanges, APIs, chart providers and other third-party systems may experience technical failures, interruptions, stale data, delayed feeds, incorrect records or subsequent data corrections.

Global Banking & Finance Review® does not independently audit every market-data point or item of reference information supplied by external providers.

A price quoted within an article therefore represents the information available from the applicable source at the stated observation time. It should not be treated as a live or executable quotation.

Global Banking & Finance Review® does not guarantee that a price displayed on the website will correspond exactly with a price available from a broker, exchange, trading venue or another market-data provider at the same apparent time.

Readers requiring live, current or executable market information should independently verify the information through an appropriate exchange, regulated broker, financial institution or authorised market-data provider.

We do not guarantee uninterrupted availability of market data, charts, automated reporting, instrument pages, historical records or other Markets functionality.

Forecasts, Analyst Targets and Third-Party Opinions

The automated Global Banking & Finance Review® Markets reporting system does not issue proprietary buy, sell or hold recommendations, investment ratings, trading signals or price targets.

Global Banking & Finance Review® may, however, report forecasts, analyst targets, research views, institutional projections, ratings or opinions issued by identifiable third parties as part of its broader news and editorial coverage.

Where such information is published, it should be appropriately attributed to the relevant third party.

Publication of another organisation’s or individual’s forecast, price target, rating, research opinion or projection does not mean that Global Banking & Finance Review® agrees with, adopts, verifies, guarantees or endorses that view.

Forecasts, estimates, projections, analyst targets and forward-looking statements are inherently uncertain, and actual results may differ materially.

Commercial, Advertising, Sponsored and Affiliate Content Disclosure

Global Banking & Finance Review® is a commercially operated media platform. The website publishes editorial content, news, market information, press releases, contributed material, sponsored content, advertorials, advertisements, affiliate links and other material that may be supplied, commissioned, promoted or paid for by companies, organisations, PR agencies, advertisers, affiliates, contributors and other third parties.

For transparency, readers should assume that all articles, content, material, advertisements and links appearing on or through Global Banking & Finance Review® are commercial in nature or may constitute commercial content placements.

Global Banking & Finance Review® may receive compensation in connection with the publication, display, promotion, referral, introduction, click, lead, purchase, use or other interaction involving certain content, companies, products, financial products, services, advertisements, advertisers, affiliates or third-party links.

Where a reader clicks a link, makes a purchase, submits information, completes a form or otherwise interacts with a third party, Global Banking & Finance Review® or one of its partners may receive compensation. Such compensation will not normally result in an additional charge to the reader unless expressly stated otherwise.

The blanket commercial disclosure above applies across the website. Where particular material is sponsored, commissioned, advertiser-controlled, affiliate-supported or otherwise constitutes a marketing communication for which applicable laws, regulations or advertising standards require more specific identification, it may additionally be labelled Sponsored, Advertisement, Advertisement Feature, Advertorial, Partner Content, or another appropriate designation.

The blanket commercial disclosure is additional to and does not replace any specific disclosure, warning, approval or identification that may be required by applicable law, regulation or advertising standards.

The inclusion, publication or discussion of any company, organisation, individual, product, financial instrument, cryptocurrency, service, advertisement, sponsored article, press release, link or third-party content does not constitute an endorsement, recommendation or approval by Global Banking & Finance Review®.

Commercial relationships do not change the mathematical calculation of market movements or remove the verification and publication standards applicable to our automated Markets reporting.

Opinions expressed by advertisers, contributors, companies, analysts or other third parties are their own and do not necessarily represent the views of Global Banking & Finance Review®.

Conflicts of Interest

Global Banking & Finance Review® seeks to identify and appropriately disclose material relationships or conflicts of interest where they could reasonably be relevant to particular market coverage.

A company or organisation discussed on the website may separately have an advertising, sponsorship, commercial, awards, content, affiliate or other business relationship with Global Banking & Finance Review®.

The existence of such a relationship should not be interpreted as an endorsement of that company, its securities, financial products, services or investment prospects.

Where a material relationship requires specific disclosure under applicable editorial, advertising, legal or regulatory standards, an appropriate disclosure may be made in addition to the general commercial disclosure contained on this website.

Financial Promotions and Third-Party Marketing

Our editorial and automated Markets reporting is intended to provide information about financial markets and is not intended to constitute an invitation or inducement to engage in investment activity.

Third-party advertisements, sponsored material, commercial communications or links relating to financial products, financial services, investments or cryptoassets may be subject to separate legal, regulatory, approval, risk-warning or advertising requirements depending on the nature of the communication, product, audience and jurisdiction.

Nothing in this methodology removes, overrides or replaces any such requirement.

The presence of a financial product, service, company or cryptoasset on Global Banking & Finance Review® does not represent that the product or service is available, lawful, regulated, authorised, appropriate or suitable for any particular reader or jurisdiction.

Readers are responsible for determining the legal and regulatory position applicable to their own circumstances.

Historical and Archived Content

Published market articles, reference pages and other historical content may remain accessible after the information contained within them has become outdated.

Readers should always consider the original publication date, update date and applicable market-data timestamp when evaluating historical information.

Historical content is not continuously updated unless expressly stated otherwise.

A market development occurring after publication does not make a previously accurate historical observation incorrect.

Corrections and Updates

If information published within our Markets coverage appears to be incorrect, readers may contact info@gbafmag.com and provide the relevant article link together with details of the suspected error.

Where a material factual error, numerical error or incorrect attribution is confirmed, we aim to correct it as soon as reasonably practicable.

A material correction may include a dated correction or clarification note.

Where an article should not have been published, it may be withdrawn or removed and the reason recorded.

Where a market movement subsequently reverses or new material information becomes available, we may add a dated update or publish subsequent coverage rather than silently rewriting the original report in a way that suggests later information was available at the original publication time.

A subsequent market reversal does not make an earlier accurately reported market observation incorrect.

Prices or other information supplied by external sources may subsequently be restated. Where such a change is material to a published article, we may update the article or add an explanatory note where appropriate.

Corrections and takedowns remain the responsibility of the appropriate Global Banking & Finance Review® editorial team.

Changes to This Methodology

Financial markets, data sources, instrument availability, technology, automated reporting systems and editorial requirements evolve over time.

Global Banking & Finance Review® may therefore amend this methodology, its monitored instrument universe, reporting thresholds, data providers, calculation methods, sourcing requirements, automated processes or publication standards from time to time.

Where material changes are made to this methodology, the Last updated date on this page should be revised.

Information and Educational Purposes Only — Not Financial or Investment Advice

All Global Banking & Finance Review® Markets content, including market prices, market movements, charts, data, statistics, historical performance, reports, analysis, commentary, news, third-party forecasts, analyst opinions, price targets quoted from third parties and references to possible future developments, is provided solely for general informational, educational and learning purposes.

Nothing published by Global Banking & Finance Review® constitutes financial, investment, trading, brokerage, legal, tax, accounting or other professional advice.

Nothing published on the website should be interpreted or relied upon as a recommendation, endorsement, solicitation, offer, investment recommendation, price target issued by Global Banking & Finance Review®, trading signal or instruction to buy, sell, hold, subscribe to, invest in or otherwise transact in any security, cryptocurrency, commodity, currency, financial product, investment or other asset.

Global Banking & Finance Review® tracks and reports market movements for informational and educational purposes.

The fact that we report that an asset has risen, fallen, reached a particular price, crossed a threshold, experienced unusual market activity, attracted analyst attention or has been assigned a price target or forecast by a third party should never be interpreted as advice or a recommendation by Global Banking & Finance Review® to buy, sell or hold that asset.

Nothing published takes into account the investment objectives, financial circumstances, experience, knowledge, risk tolerance, requirements or suitability considerations of any particular reader.

Financial markets, securities, investments and cryptocurrencies can involve substantial risk. Prices may rise or fall rapidly, investors may lose some or all of the money invested, and some investments may become illiquid or lose substantially all of their value.

Past performance is not a guarantee or reliable indication of future performance.

Forecasts, projections, estimates, opinions, analyst targets and forward-looking statements are inherently uncertain and should not be relied upon as guarantees of future results.

Readers should always conduct their own independent research and due diligence, independently verify information through appropriate sources, understand the risks involved and consider their own circumstances before making any financial, investment or trading decision.

Where appropriate, readers should obtain independent advice from a suitably qualified and, where applicable, appropriately authorised professional.

Accessing, reading or using Global Banking & Finance Review® or its Markets coverage does not create an adviser-client, investment adviser, broker-client, fiduciary, consultancy or other professional relationship between Global Banking & Finance Review® and any reader.

Global Banking & Finance Review® does not guarantee the accuracy, completeness, reliability, timeliness, availability, suitability or applicability of market information, third-party information, charts, forecasts or other material published or displayed on the website.

Readers should not rely solely upon Global Banking & Finance Review® when making financial or investment decisions.

To the fullest extent permitted by applicable law, Global Banking & Finance Review®, its owners, related companies, officers, employees, contributors and partners shall not be responsible or liable for any loss, damage, cost or other consequence arising directly or indirectly from the use of, reliance upon or inability to use market information, articles, charts, data, advertisements, links, products, services or other information appearing on or through the website.

Any financial, investment or trading decision made after viewing information on Global Banking & Finance Review® remains the reader’s own decision and is made at the reader’s own discretion and risk.

This methodology should be read together with the Global Banking & Finance Review® Terms of Use, Privacy & Cookies Policy, Publishing Principles, Editorial Code of Ethics, Fact Checking Policy, Corrections Policy and applicable advertising and sponsorship disclosures.