Sun, Jun 25, 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. FinTech - Rise of robots: Inside the world's fastest growing hedge funds[more]

    From Bloomberg.com: Believe the hype. Quants have never been more popular. After doubling over the past decade, assets run by so-called systematic funds have hit a record $500 billion this year, according to estimates from Barclays Plc. In some ways, their meteoric rise is due to the same technolog

  2. Legal - Bond market concerns could scuttle Paulson's Fannie-Freddie plan[more]

    From Bloomberg.com: A hedge fund proposal for freeing Fannie Mae and Freddie Mac from U.S. control is poised to face stiff opposition from investors who say it risks wrecking the mortgage-bond market. The Moelis & Co. blueprint, which firms including Paulson & Co. and Blackstone Group LP sponsored,

  3. Other Voices: Are your pricing policies and procedures for less liquid instruments adequate?[more]

    Komfie Manalo, Opalesque Asia: The unrelated position mismarking incidents that quickly precipitated the closures of both Visium Asset Management and Marinus Capital have been recent focal points for market participants, but regulatory scrutiny of valuation choices for less liquid instruments is

  4. FinTech - AI hedge fund Numerai now live on Ethereum, Cryptocurrency hedge funds generate huge returns as bitcoin surges[more]

    AI hedge fund Numerai now live on Ethereum From Cryptoninjas.net: Back in February, Numerai announced numeraire (NMR), a cryptographic token to incentivize a new kind of hedge fund built by a network of data scientists. Earlier today, the Numeraire smart contract was officially deployed

  5. Investing - Advisors slash hedge fund positions, Theravance Biopharma is a top pick of investment guru Seth Klarman, As asset management industry grows a search for new revenue streams[more]

    Advisors slash hedge fund positions From Barrons.com: Financial advisors have cut wealthy clients' exposure to hedge funds by up to one third over the past 12 months, The Financial Times reports. Advisor firms in the FT's annual top-300 ranking have reduced their hedge fund allocation to