Tue, Jan 24, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

U.S. Bancorp Fund Services, LLC launches exchange traded funds service, ETF-Fusion

Tuesday, December 06, 2011
Opalesque Industry Update: U.S. Bancorp Fund Services, LLC has announced the launch of its Exchange Traded Funds (ETF) service called ETF-FusionTM.

With ETF-Fusion, USBFS is now able to serve investment managers sponsoring either existing or startup ETF products, with consulting support including product development, implementation, and proprietary technology.

ETFs are the industrys fastest growing segment and we are pleased to provide an innovative solution to support this unique product, said Joe Redwine, president of USBFS. With a full-service system, including distribution and custody support, we are offering something new and valuable to the industry.

ETF-FusionTM offers numerous benefits through two new systems and addresses the unique needs of an ETF: DASHTM (Direct Access to a Secure Hub) -- A trade application updated in real time that provides an automated interface between fund sponsors, distributors and authorized participants. Benefits include:


  • Excel-enabled Web query order reports can be provided in real time. DASH allows online management of both fixed and variable fees, as well as soft cut-offs on trades;
  • Distributors, sponsors, and authorized participants receive automatic confirmations of trades and are able to quickly revise and make decisions through a live, online dashboard;
  • All fax and Web orders are personally affirmed to reduce and mitigate risk;
  • Impromptu holiday forecasting and automatically supports regular and reverse splits and;
  • A dedicated service team which can provide technical support and create login credentials for various users.

GeniusTM -- A central database contained within the core of USBFS fund accounting and inventory systems integrates all ETF applications. Benefits include:

  • Benchmark data, fund data and order data are all directed and contained within the database;
  • Portfolio Composition File (PCF), Intraday Indicative Value (IIV) and in-kind trade files are transmitted and received between the funds records, DASHTM, the DTCC/NSCC, the New York Stock Exchange (or alternate IIV agent), and the funds custodian for Continuous Net Settlement (CNS) processing; and
  • Integration between DASHTM, the funds books and records, continuous net settlement, and custodians results in smooth settlements. GeniusTM enables a clients core accounting team to manage its daily core accounting functions simultaneously with added ETF processing requirements resulting in a singular approach to ETF servicing.

In addition to simplifying the processes of ETF trading, USBFS automated processes that traditionally have been manual, and made ETFs a much more efficient option for investment managers,said Eric Falkeis, chief financial officer of USBFS.

Press Release

BM

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Investing - This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally, Hedge fund legend David Einhorn is making a big bet on GM, After impressive 85% return in 2016, hedge fund looks to Canadian gold producer, small banks[more]

    This hedge fund made 37% betting on banks in 2016 and remains bullish after the Trump rally From Forbes.com: Can bank stocks continue to rise after a 28% surge in the KBW Bank Index in 2016, fueled by a post-election rally as stock pickers returned to the beaten down sector? Forget the s

  2. SWFs - China sovereign wealth fund CIC plans more U.S. investments[more]

    From Reuters.com: China Investment Corporation (CIC), the country's sovereign wealth fund, is looking to raise alternative investments in the United States due to low returns in public markets, its chairman said on Monday. CIC will boost its investments in private equity and hedge funds as wel

  3. Some hedge funds strong start in 2017 nice contrast to 2016[more]

    With the 2016 HSBC Hedge Weekly performance rankings in the books - a year in which the same leader-board entries pretty much dominated unchallenged throughout the year - comes a new leader board that is a hard-scrabble mix of hedge fund styles and categories. What is clear after but a few short wee

  4. Macro hedge funds and CTAs outperform in December on strong dollar[more]

    Komfie Manalo, Opalesque Asia: The last month of 2016 saw risk assets climbing higher, as part of expectations that the new U.S. administration will remove barriers to growth and investment, Lyxor Asset Management said. December also saw the Fed hik

  5. Opalesque Exclusive: Roxbury credit events UCITS gathers more assets[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: The Roxbury Credit Events Fund, launched in September 2015, was up 4.24% in 2016, having returned seven positive months during the year. The managers raised