US private bank Brown Brothers Harriman’s (BBH’s) exchange-traded fund (ETF) portal suite, ETF Connect, will see fund sponsors, authorized participants (APs) and BBH—acting as administrator and custodian—manage exchange-traded fund operations through a single platform.
Access will include BBH's newly launched AP Exchange (APEX), which provides customized workflow automation around users' creation and redemption order requirements that pass between the sponsor, APs and BBH, supporting both custom ETF baskets and restricted securities at time of order placement.
ETF Connect, which the bank says recognizes ETF products' strategic importance and rapid growth, will also provide full integration of custody, accounting, and transfer agency systems within APEX, speeding transaction processing for users.
"ETF Connect is an example of the innovation that BBH brings in partnership with our clients to streamline their operations by centralizing connectivity points to BBH. Our goal as a service provider is to increase our clients' efficiencies, allowing them to focus on their priorities. ETF Connect is a testament to this goal," says Rick Berk, a partner in BBH's investor services product management group.
Jesse Lund talks about real uses for DLT in the capital markets, lessons learned while rolling out IBM's blockchain platform, and what’s ahead for 2018, and into 2019.Subscribe to Weekly Wrap emails