As the exchange traded fund (ETF) industry grows, so do the needs of servicing the increasing number of transactions taking place. Another ETF provider has stepped forward to offer assistance.
State Street announced that it has launched a new service for the ETF market to help clients process ETF orders more efficiently and in an automated and streamlined fashion. According to BusinessWire, State Street’s Assisted Trading service, authorized participants can simultaneously enter the ETFs they want to trade and identify any restricted shares via State Street’s FundConnect platform. [Why Is My ETF Deviating from the Benchmark?]
The method for identifying restricted shares within ETFs was manual and intensive. With the new program, the restricted shares are segregated and sent to State Street Global Markets, the company’s investment research and trading arm, to be traded. The new process will ensure every market investor is within compliance with all regulatory and exchange requirements when trading these funds. [As ETF Industry Grows, Some Stay Skeptical.]
Tisha Guerrero contributed to this article.
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