Sun, Oct 4, 2015
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


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. Opalesque Exclusive: IRAs represent billions of untapped capital for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva: Retirement accounts might not be the first source that comes to mind for those looking to raise funds, but they may represent billions of untapped capital. Unlike traditional retirement accounts,

  2. Opalesque TV: One way to access market hedge funds in the EU under the AIFMD radar[more]

    Benedicte Gravrand, Opalesque Geneva: While the Cayman Islands, the US and Hong Kong await the pan-European marketing passport to be extended to alternative investment fund

  3. Performance - Hedge fund moguls Einhorn, Loeb, Rosenstein lose money in September, Risky strategy sinks small hedge fund[more]

    Hedge fund moguls Einhorn, Loeb, Rosenstein lose money in September From Billionaire stock pickers David Einhorn, Daniel Loeb and Barry Rosenstein on Wednesday told their wealthy investors they lost money in September as market turmoil inflicted more pain on some of America'

  4. Comment - Cash and hedge funds are king[more]

    From For years we've argued that, given heightened uncertainty, a preferred portfolio posture is to barbell between cash allocations, which provide valuation optionality and mitigate unanticipated shocks, and long-short equities hedge funds that reduce "beta", or index risks, while leaving

  5. Europe - Russia has been gold for hedge funds this year[more]

    From Judging by the headlines, Russia may look like a nation in turmoil. Investors, though, don't seem to mind. In fact, for hedge funds, Russia has been one of the biggest and best stories of 2015, turning in the only positive performance among all emerging market strategies and crushing