The Bank of New York announced today that it has been named as service provider for the ETF Advisors family of fixed income exchange-traded funds whose Fixed Income Trust Receipts (FITRS) trade on the American Stock Exchange.
With the addition of this new business, BNY now supports more than 40 separate exchange-traded funds with total assets of approximately $30 billion.
“We are delighted to have been selected as ETF services provider for these innovative new fixed-income ETFs, and we are proud to be associated with this leading-edge development in the industry,” remarks Joe
Keenan,
vice
president
and
global
product
manager for exchange-traded products at The Bank of New York. “The Bank is highly focused on providing a wide range of quality services to the mutual fund industry, and our partnership with ETF Advisors is further evidence of our commitment to the ETF marketplace.”
Gary Gastineau, managing director of ETF Advisors, adds: “The Bank of New York was a natural choice as the services provider for the Treasury FITRS, based both upon the Bank’s reputation for supporting the industry’s most successful ETFs, and its recognized expertise in the clearance, settlement, and lending of U.S. Treasury securities.”