BNP Paribas and SIX-owned data provider Ultumus have entered a partnership to offer ETF servicing capabilities.
As part of the agreement, the French bank’s securities services arm will leverage Ultumus’ create and redeem COSMOS platform.
The platform will handle the “lifecycle” of its ETF-related operations, from approving new creation and redemption orders to settlements, using its automated processes to enhance efficiency.
According to Ultumus, the platform will provide an audit trail of steps and stages, helpful for post-trade record keeping and retention.
Bernie Thurston (pictured), CEO of Ultumus, said: “COSMOS builds on Ultumus’ extensive dynamic library of near real-time global data on ETFs, their underlying portfolios and portfolio composition files, provided for leading ETF players.”
Arnaud Claudon, head of asset owners and managers client lines for securities services at BNP Paribas, added: “As our client base continues to invest in and create new ETFs, we see partnering with Ultumus as a way to help accompany our clients’ growth and further expand our integrated banking offering.
“This includes our ETF servicing agent, authorised participant and market making capabilities. Our work will allow us to optimise ETF efficiencies across multiple markets and create a consistent user experience for our clients and their authorised participants.
It is the latest partnership entered into by Ultumus after it partnered with asset servicing bank Caceis to become a “one-stop-shop” ETF solutions provider.
Last month, Ultumus appointed Bam Adeshina as a senior analyst from S&P Global Ratings.