State Street is opening its Fund Connect exchange-traded fund (ETF) to support all ETF issuers regardless of their service provider.
Fund Connect ETF is a global online trading portal for the creation and redemption of ETFs, designed as a single point of access to many sponsors.
The platform continues to expand its global footprint, by adding to its existing Asia Pacific (APAC) presence with a new office in Hong Kong scheduled to open later this year.
Fund Connect ETF is now supported in all ETF trading jurisdictions across the globe including the US, EMEA, Canada and APAC.
Previously, the platform was only available to issuers receiving securities services from State Street. The Fund Connect platform has long served as a conduit between authorised participants (APs) and issuers.
“State Street is pleased to open Fund Connect’s powerful ETF and digital platform to all market participants, regardless of their choice of service provider,” says Nadine Chakar, head of State Street’s Global Markets business.
According to Chakar, with connectivity to so many ETF sponsors and APs, Fund Connect ETF is well positioned to make the workflow even more automated and efficient, accelerating the creation and redemption process.
“This expansion is aligned with our firm’s commitment to an open, flexible approach, as exemplified by State Street AlphaSM, which brings together the tools, services, insights and partners that clients need on a single platform,” Chakar adds.
