State Street issues ETFs on FundSettle

State Street Global Advisors (SSGA) has made 40 SPDR ETFs available on Euroclear’s FundSettle fund processing platform including its range of 29 Sector ETFs.

Using this platform allows end investors to buy and sell shares in ETFs such as mutual funds at their closing net asset value.

As part of the expanded platform European investors, who invest exclusively in mutual funds, will now access SPDR ETFs on exchanges where they are listed.

“The issuance of our SPDR ETFs on FundSettle is in response to client requests, who wanted to be able to align their ETF order execution with transactions in mutual funds,” said Philippe Roset, head of SPDR Netherlands.

Since its launch in 2000, FundSettle provides straight-through processing for fund transactions by offering a single access point for fund buyers.

This latest development follows SSGA’s news at the beginning of the month that 10 world Sector SPDR ETFs had been made available on the Euronext exchange.

“We are very proud to have been part of this collaboration with SPDR, which included consolidating their 60 share classes of French mutual funds into 11 Irish ETFs, a market first in Europe,” said Mohamed M’Rabti, head of ETFs and FundSettle, Euroclear.