State Street makes it easier to create an ETF in Europe and APAC

Rick Steves

“Fund Connect is now the first create / redeem portal with fully enabled via APIs across Asia-Pacific, Canada, Europe and the United States.”

State Street Corporation has announced an expansion of its Fund Connect ETF portal through API upgrades, now offering global coverage including Europe and the APAC region.

This move aims to meet the growing demand for automated and efficient ETF creation and redemption processes. The enhanced API integration allows for direct order placements with funds through clients’ Order Management Systems.

The move is part of State Street’s broader strategy to support the evolving needs of Authorized Participants and further establishes its leadership in the ETF industry.

The Fund Connect ETF portal

The Fund Connect ETF portal is an online platform provided by State Street Corporation that facilitates the creation and redemption of Exchange-Traded Funds (ETFs).

It serves as a single point of access for a wide range of issuers, offering an automated order routing solution that connects Authorized Participants (APs), order takers, sub-advisors, and sponsors.

The portal supports transactions in multiple currencies and is designed to streamline the ETF creation and redemption process, enhancing operational efficiency, and reducing risk.

With the recent upgrades to its Application Protocol Interface (API), the portal now offers global coverage, allowing market participants worldwide to benefit from its automated API technology for scalable and efficient ETF management.

“Increasing demand for streamlined and automated ETF creation”

Lori Coakley, global business head of Fund Connect ETF at State Street, said: “This expansion is in response to the growing demand from our valued APs, particularly those in Europe and APAC, who have expressed a strong interest in leveraging State Street’s best-in-class connectivity. Not only does this cater to that increasing demand for streamlined and automated ETF creation and redemption processes, but it also further solidifies our position as a leader in the ETF industry.”

Frank Koudelka, global head of ETF Product at State Street, commented: “The global API connectivity is the next logical step in the continued digitization of our ETF servicing business. Close to 100 authorized participants are communicating their create / redeem orders globally on behalf of our ETF clients to State Street via Fund Connect.

“The continued theme we have heard from them is a desire to communicate system-to-system as opposed to web portals, and Fund Connect is now the first create / redeem portal with fully enabled via APIs across Asia-Pacific, Canada, Europe and the United States. his further demonstrates the innovations that State Street has brought to the marketplace as the largest global ETF service provider.”

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