U.S. Bank announced today that it will leverage Intercontinental
Exchange’s (NYSE: ICE) ICE ETF Hub to offer its customer base
seamless electronic access to the ETF primary market. ICE ETF Hub,
which recently surpassed $1 trillion in notional create/redeem
orders, is an industry-wide, open architecture, technology
solution, offering a standardized and simplified process for the
creation and redemption of ETF shares.
With this relationship, U.S. Bank clients will have access to
the ICE ETF Hub platform, which currently supports U.S.-listed
equity, fixed-income, derivative, commodity and multi-asset ETFs.
U.S. Bank services more than 70 ETF clients, with more than 330
ETFs. Clients will also have access to ICE’s automated
functionality, which allows ETF primary market participants to
negotiate and assemble custom basket proposals.
“Intercontinental Exchange’s ICE ETF Hub brings important new
innovations and protocols to the share creation and redemption
process for ETFs,” said Joe Neuberger, president of U.S. Bank
Global Fund Services. “We’re excited to offer these new
efficiencies to our clients and offer a seamlessly connected
end-to-end solution from order processing through clearing.”
“We’re pleased to work with U.S. Bank as they continue to build
on their leadership position in providing custodial services to the
ETF issuer community,” said Peter Borstelmann, president of ICE
Bonds. “The standardization we’ve brought to the ETF primary market
and the recent enhancements around custom basket negation
technology and access to ICE’s secondary bond market will offer
compelling new efficiencies for U.S. Bank and its customers.”
About U.S. Bank
U.S. Bancorp, with nearly 70,000 employees and $567 billion in
assets as of Sept. 30, 2021, is the parent company of U.S. Bank
National Association. The Minneapolis-based company serves millions
of customers locally, nationally and globally through a diversified
mix of businesses: Consumer and Business Banking; Payment Services;
Corporate & Commercial Banking; and Wealth Management and
Investment Services. The company has been recognized for its
approach to digital innovation, social responsibility, and customer
service, including being named one of the 2021 World’s Most Ethical
Companies and Fortune’s most admired superregional bank. Learn more
at usbank.com/about.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500
company that designs, builds and operates digital networks to
connect people to opportunity. We provide financial technology and
data services across major asset classes that offer our customers
access to mission-critical workflow tools that increase
transparency and operational efficiencies. We operate exchanges,
including the New York Stock Exchange, and clearing houses that
help people invest, raise capital and manage risk across multiple
asset classes. Our comprehensive fixed income data services and
execution capabilities provide information, analytics and platforms
that help our customers capitalize on opportunities and operate
more efficiently. At ICE Mortgage Technology, we are transforming
and digitizing the U.S. residential mortgage process, from consumer
engagement through loan registration. Together, we transform,
streamline and automate industries to connect our customers to
opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental
Exchange, ICE, ICE block design, NYSE and New York Stock Exchange.
Information regarding additional trademarks and intellectual
property rights of Intercontinental Exchange, Inc. and/or its
affiliates is located here. Key Information Documents for certain
products covered by the EU Packaged Retail and Insurance-based
Investment Products Regulation can be accessed on the relevant
exchange website under the heading “Key Information Documents
(KIDS).”
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 – Statements in this press release regarding
ICE's business that are not historical facts are "forward-looking
statements" that involve risks and uncertainties. For a discussion
of additional risks and uncertainties, which could cause actual
results to differ from those contained in the forward-looking
statements, see ICE's Securities and Exchange Commission (SEC)
filings, including, but not limited to, the risk factors in ICE's
Annual Report on Form 10-K for the year ended December 31, 2020, as
filed with the SEC on February 4, 2021.
About ICE Bonds
Securities products and services are offered through ICE Bonds
Securities Corporation or ICE Bonds, member FINRA, MSRB, NFA and
SIPC. The information found herein, has been prepared solely for
informational purposes and should not be considered investment
advice, is neither an offer to sell nor a solicitation of an offer
to buy any financial product(s), is intended for institutional
customers only and is not intended for retail customer use.
* An Authorized Participant is an institutional firm
authorized by an ETF issuer to facilitate creations or redemptions
of ETF shares.
SOURCE: Intercontinental Exchange
U.S. Bank Global Fund Services is a wholly owned subsidiary of
U.S. Bank, N. A. Custody and lending services are offered by U.S.
Bank, N.A.
U.S. Bank Global Fund Services (Ireland) Limited is registered
in Ireland with the Companies Registration Office Reg. No. 413707
and Registered Office: 24-26 City Quay, Dublin 2, Ireland. U.S.
Bank Global Fund Services (Ireland) Limited is authorised and
regulated by the Central Bank of Ireland under the Investment
Intermediaries Act, 1995
U.S. Bank Global Fund Services (Guernsey) Limited is licensed
under the Protection of Investors Law (Bailiwick of Guernsey),
1987, as amended by the Guernsey Financial Services Commission to
conduct controlled investment business in the Bailiwick of
Guernsey.
Investment products and services are:
NOT A DEPOSIT • NOT FDIC INSURED • MAY LOSE VALUE • NOT BANK
GUARANTEED • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
U.S. Bank does not guarantee products, services or performance
of its affiliates and third-party providers.
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version on businesswire.com: https://www.businesswire.com/news/home/20211026005964/en/
Kimberly Mikrot, U.S. Bank Public Affairs & Communications
kimberly.mikrot@usbank.com | 612.206.2553
Damon Leavell, ICE Communications damon.leavell@ice.com |
212.323.8587
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