CIBC Mellon has been selected to provide a suite of asset servicing software for Invesco’s recently launched TSX-listed PowerShares exchange-traded funds.
CIBC Mellon will deliver custody and fund administration services for PowerShares ETFs, with BNY Mellon providing performance and risk analytics.
“CIBC Mellon’s exceptional solution for ETF servicing in Canada, their strong custody and fund administration services and their dedication to client service led us to appoint CIBC Mellon as the asset servicing provider for our TSX-listed PowerShares ETFs,” says Peter Intraligi, president and COO of Invesco’s operations in Canada.
Tom Monahan, president and CEO of CIBC Mellon, adds: “PowerShares is a leading brand in the global ETF space, and we are proud to partner with Invesco as they introduce PowerShares ETFs here in Canada. We look forward to providing tailored solutions to support investors in TSX-listed PowerShares ETFs.”
CIBC Mellon’s ETF software includes indicative net asset value production, automated basket creation and redemption features, and a designated broker interface offering flexible, end-to-end automation of the order process.
(CM)