Sun, Nov 23, 2014
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. Regulatory - Stringent rules for hedge funds make the financial system fragile[more]

    From FT.com: …It is one thing to impose a regulatory burden when there is a clear need to do so. Banks are underwritten by taxpayers via deposit insurance as well as the too-big-to-fail safety net; they need to be reined in, and if they shrink as a result, that may be welcome. But it is another thin

  2. Investing - Apple: Hedge funds are crazy about it, Greenlight Capital took stake in Citizens Financial after IPO, Tiger Global added to Hertz, exited Dollar General last quarter, Oberweis sells NQ Mobile stake as Valiant adds shares, Whitney Tilson sticks to losing bet on MagicJack shares, Brigade Capital backs €90m Quinn sale[more]

    Apple: Hedge funds are crazy about it From Techinsider.net: Apple Inc. is still the most popular stocks among hedge funds. According to a recent report by hedge fund tracking site Insider Monkey, more than one out of 5 hedge funds are invested in Apple Inc. At the moment there are

  3. Greenlight Re CEO says hedge fund reinsurance strategy buzz is validating[more]

    From Artemis.bm: The attention being paid to the hedge fund reinsurance business model and the fact that others are now looking to leverage bits of it within their own strategies, is validating for reinsurer Greenlight Capital Re, according to CEO Bart Hedges. There has been an increasing buzz

  4. Legal - Hedge fund manager fights £8m tax tribunal ruling[more]

    From FT.com: A hedge fund manager who may have to repay £8m in tax is trying to overturn a tribunal ruling that found he had attempted to shelter millions in an avoidance scheme. Patrick Degorce, chief investment officer at Theleme Partners, lost a tax tribunal case last year. HM Revenue & Customs c

  5. Europe - Hedge funds face exit tax as Iceland central bank discusses plan[more]

    From Bloomberg.com: Hedge funds and other creditors with claims against Iceland’s failed banks face an exit tax as the island looks for ways to unwind capital controls without hurting the economy. The government targets having a plan it can present by year-end that would map out how Iceland will sca