State Street has expanded its global servicing capability for ETFs utilizing cloud-enabled technology through its client portal at my.statestreet.com.
State Streets ETF dashboard now offers near real-time monitoring of ETF baskets. Additionally, the Fund Connect ETF order management system now covers Europe, Canada and Asia Pacific. It also added a daily performance attribution capability for ETFs, allowing for NAV decomposition to break down tracking error into specific components.
The firm says its ETF servicing solution, TotalETF, drives full automation throughout the lifecycle of an ETF from the basket-creation process to trade processing and settlement.
“TotalETF will help solve all potential administrative pain points for ETF sponsors globally,” says Frank Koudelka, senior vice president of State Street’s Global Services business. Our expanded offering reflects the tremendous growth that ETFs have experienced over the past decade. As the only provider offering a common electronic order management platform to connect all market participants involved in ETF trading, our clients now have a scalable servicing solution that will allow them to focus on developing new ETF products.”
(CG)