State Street Global Exchange has announced the launch of FundConnect, an online trading platform for Exchange Traded Funds (ETFs) designed to enhance the speed and efficiency in European ETF order-taking process.
FundConnect enables Authorized Participants (APs) in Europe to trade multiple products through a secure online interface, allowing them to significantly reduce the time taken to complete an order by including FundConnect in the order-taking workflow.
"FundConnect transforms the way ETFs are traded in Europe by replacing the reliance on faxes and phone calls with a single, electronic platform that connects all market participants," says Martine Bond, executive vice president and head of trading and clearing at State Street Global Exchange. "Solutions to optimize front-office capabilities are a priority."
Initially launched in the US in 2008, the platform also provides APs and ETF fund sponsors with a real-time view of their orders, and allows them to run historic transactional reports directly from the platform.
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