State Street Announces Expansion of Fund Connect ETF Portal in Singapore
May 18 2022 - 8:30AM
Business Wire
Milestone builds on State Street’s expansion of its ETF digital
capabilities across multiple technology platforms; Portal now
supports ETF trading across the globe including in the US, Canada,
Europe and Asia-Pacific
State Street Corporation (NYSE:STT) today announced that its
Fund Connect ETF portal – a division of State Street Digital and
its leading global, primary market ETF portal with access to more
than 960 exchange traded fund (ETFs) from leading issuers – is
officially live in Singapore with its first product in the region.
The firm had previously provided back-office services for ETFs
including custody and fund administration.
The growth into Singapore is an important milestone with
Asia-Pacific being the third largest region for ETFs, following
North America and Europe. Fund Connect has also received
jurisdictional approval in Australia1, one of the fastest growing
ETF markets in Asia-Pacific, with a roll out strategy forthcoming.
The Fund Connect portal has long served as a conduit between
Authorized Participants (APs) and issuers, and Fund Connect ETF is
looking to increase the number of market participants globally
utilizing the technology, from both an issuer and participating
dealer point of view.
“Our expansion into Singapore marks an important milestone for
Fund Connect ETF as we continue to build on our proven track record
of supporting the world’s developing ETF markets,” said Lori
Coakley, global head of Fund Connect ETF. “We continually aim to
provide our ETF clients with options to simplify workflow
automation, and are pleased to expand the footprint of our global
technology portal.”
Fund Connect ETF, an integral portal within State Street’s award
winning GlobalLink product suite, is a global online fund portal
for the creation and redemption of ETFs, designed as a single point
of access to many sponsors. For nearly twenty years, the portal’s
automated order placement solution and comprehensive integration to
order management systems has supplied a direct link between market
makers, APs, distributors, transfer agents, sub-advisors and
sponsors, along with direct access to ETFs in multiple currencies.
This connectivity helps support increased efficiency, reduced
operational risk and enhanced communication between all
parties.
Fund Connect ETF at a glance:
- Provides global ETF coverage and serves 43 issuers and more
than 25 end-to-end integrations
- 83 Authorized Participants (APs)
- More than 960 ETFs available including semi-transparent active
and digital ETFs
- Managed over $2.7t notional volume in 2021
“We are pleased to be working alongside the Fund Connect ETF
team on this exciting development for the business and region,”
said Naoko Kawabe, head of Global Link, Asia Pacific at State
Street. “Our ETF servicing team continues to leverage our scale and
global footprint on behalf of our clients, and this allows us to
meet our clients’ needs wherever they do business.”
About State Street
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 $41.7 trillion in assets
under custody and/or administration and $4.0 trillion* in assets
under management as of March 31, 2022, State Street operates
globally in more than 100 geographic markets and employs
approximately 39,000 worldwide. For more information, visit State
Street’s website at www.statestreet.com.
*Assets under management as of March 31, 2022 includes
approximately $73 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.
© 2022 State Street Corporation - All Rights Reserved
State Street Corporation One Lincoln Street, Boston, MA
02111-2900.
4748347.1.1.GBL.RTL
1 Fund Connect Domestic AML Tier 2 - Exemption notice and
Licence - 20220224 FINAL signed (combined) (asic.gov.au)
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Media Contact: Brendan Paul Bpaul2@statestreet.com +1 401
644 9182
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