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State Street launches European ETF platform
20 February 2014
Expects to revolutionise ETF market in Europe
State Street Global Exchange has launched the first online
trading platform for exchange traded funds (ETFs) in Europe.
The multi-sponsor platform, FundConnect, which has been
available in the US market since 2008, will now be open to
authorised participants in Europe.
The firm claims it will transform the European ETF market by
increasing efficiency in the order-taking process which
historically depends on faxes. Moving to a real-time electronic
platform will create significant efficiencies and reduce risks,
said State Street.
Alexis Marinof, Emea head of Spdr ETF said: "FundConnect
enhances the speed and efficiency with which authorised
participants can create and redeem units in our ETFs, a
mechanism that SPDR ETF takes seriously because it plays such a
vital role in supporting the liquidity needs of our
"We believe developments like FundConnect, that help support
liquidity providers across Europe, will play an important role
in enabling the ETF industry to grow."
Spdr ETFs is the first provider to go live on the