BNY Mellon has been appointed by United States Commodity Funds (USCF) to provide exchange-traded fund (ETF) services, including serving as its custodian, fund accountant and administrator and transfer agent.
USCF specialises in commodity and alternative exchange-traded products (ETPs).
BNY Mellon noted that in addition to its core offerings, it also provides ETF and asset manager trading, collateral, funding, liquidity management, ETF access and distribution strategies.
John Love, president of USCF, said: “We were impressed by BNY Mellon’s technology offerings and cost-effective services. We are excited to leverage the BNY Mellon enterprise as we enter our next phase of innovation and growth.”
Jeff McCarthy, global ETF product head, BNY Mellon asset servicing, added: "BNY Mellon is focused on delivering digital exchange-traded product solutions aimed at driving efficiencies across the ecosystem and working closely with our partners to develop long-term solutions for the industry. We are honoured to have USCF appoint BNY Mellon as a trusted partner to help execute their strategy.”
