Global X has chosen ETF and index provider Ultumus to be its portfolio composition file (PCF) solution provider for its European ETF range.
Ultumus will be responsible for performing PCF creation and distribution for Global X’s ETF suite which initially launched last December.
The ETF issuer entered the European market with the launch of two thematic strategies, the Global X Video Games & Esports UCITS ETF (HERU) and the Global X Telemedicine & Digital Health UCITS ETF (EDOC).
PCF calculation is a crucial part of the ETF ecosystem as it enables market makers to accurately price ETFs and provide liquidity to investors.
Commenting on the news, Bernie Thurston (pictured), CEO of Ultumus, said: “Supporting Global X as they launch their European ETF business demonstrates Ultumus’ growing support for the development of the global ETF ecosystem.
“Furthermore, it highlights our proficiency to support both synthetic and physical ETF structures, while helping to make them transparent and efficient to trade.”
HSBC selects Ultumus for PCF calculation services
A number of ETF issuers selected Ultumus to be their PCF solution provider last year including HSBC and 21Shares.