State Street Expands Fund Connect ETF APIs to Provide Global Coverage
08 Février 2024 - 1:00PM
Business Wire
State Street Corporation (NYSE: STT) today announced the
expansion of its Fund Connect ETF portal via upgrades to its
Application Protocol Interface (API), now offering coverage to all
clients globally including Europe and the APAC region. Fund Connect
ETF APIs have been available in the U.S. and Canada for years and
account for nearly half of North American order volumes.
Fund Connect ETF is a global online portal that facilitates the
creation and redemption of ETFs, designed as a single point of
access to many issuers. The portal’s automated order routing
solution provides access to ETFs in multiple currencies, supplying
a direct link between Authorized Participants (APs), order takers,
sub-advisors and sponsors. This API expansion allows global market
participants to scale their businesses and capitalize on efficiency
gains and risk reduction through the portal’s automated API
technology.
“This expansion is in response to the growing demand from our
valued APs, particularly those in Europe and APAC, who have
expressed a strong interest in leveraging State Street’s
best-in-class connectivity,” said Lori Coakley, global business
head of Fund Connect ETF at State Street. “Not only does this cater
to that increasing demand for streamlined and automated ETF
creation and redemption processes, but it also further solidifies
our position as a leader in the ETF industry.”
The ETF market has witnessed unparalleled growth over the course
of the past few years, driving a surge in demand for increased
automation within the creation and redemption framework.
Recognizing this trend, State Street is meeting the evolving needs
of APs by upgrading one of the most integral parts of State
Street’s GlobalLink product suite. With this enhanced API
integration, clients globally will now be able to seamlessly place
orders directly with funds via their own Order Management Systems
(OMS).
“The global API connectivity is the next logical step in the
continued digitization of our ETF servicing business,” said Frank
Koudelka, global head of ETF Product at State Street. “Close to 100
authorized participants are communicating their create / redeem
orders globally on behalf of our ETF clients to State Street via
Fund Connect. “The continued theme we have heard from them is a
desire to communicate system-to-system as opposed to web portals,
and Fund Connect is now the first create / redeem portal with fully
enabled via APIs across Asia-Pacific, Canada, Europe and the United
States. his further demonstrates the innovations that State Street
has brought to the marketplace as the largest global ETF service
provider.”
Fund Connect ETF is an integral part of State Street Global
Markets’ suite of award-winning electronic trading platforms.
Click here to learn more.
About State Street Corporation
State Street Corporation (NYSE: STT) is one of the world's
leading providers of financial services to institutional investors
including investment servicing, investment management and
investment research and trading. With $41.8 trillion in assets
under custody and/or administration and $4.1 trillion* in assets
under management as of December 31, 2023, State Street operates
globally in more than 100 geographic markets and employs
approximately 46,000 worldwide. For more information, visit State
Street's website at www.statestreet.com.
*Assets under management as of December 31, 2023 includes
approximately $64 billion of assets with respect to SPDR® products
for which State Street Global Advisors Funds Distributors, LLC
(SSGA FD) acts solely as the marketing agent. SSGA FD and State
Street Global Advisors are affiliated.
© 2024 State Street Corporation
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Media: Brendan Paul +1 (401) 644-9182
bpaul2@statestreet.com
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