HANetf has confirmed it is readying for launch of its first funds on its Irish-domiciled fund platform after it announced it had signed up a first tranche of four Authorised Participants (APs).
The independent white label ETF platform provider said the first funds were scheduled for listing on London Stock Exchange, Borsa Italiana and Deutsche Boerse XETRA in the near future, subject to regulatory approval.
The APs include Goldenberg Hehmeyer, IMC, Old Mission Europe and RBC Europe. They will provide essential liquidity to on-platform funds. The list of Aps will be added to in the coming months as HANetf seeks to create "one of the most extensive AP and market making networks in the European ETF market."
HANetf said it will operate an open and competitive market making model, designed to promote deeper liquidity and tighter pricing for on-platform ETFs. Asset management clients will be able to take advantage of this extensive panel of APs as they join and issue ETFs on the platform. Asset managers who would otherwise set up their own ETF capability would face the time and cost impact of having to set up their own AP network from scratch.
Jason Griffin, director of business development and capital markets at HANetf, said the news of the AP appointment meant HANetf would be able to promote its message of providing deeper liquidity across its fund range and helping investors benefit from greater market access and tighter spreads.
"Prospective ETF issuers will take confidence that when they issue funds through HANetf, they benefit from an extensive and expanding ecosystem of liquidity providers with tremendous ETF experience," he said.
HANetf was found by Hector McNeil and Nik Bienkowski in order to provide a full service offering to prospective ETF issuers including product development, support, operations, capital markets, sales, marketing and distribution.
The company has announced series of major hires in recent months including David Patterson joining as director of UK and Ireland sales.
and most recently the hiring of Edoardo Passaretti as director of Italian ETF sales.