JP Morgan Worldwide Securities Services (WSS) been appointed by FocusShares has appointed JP Morgan Worldwide Securities Services (WSS) to service its 15 new FocusTM Morningstar ETFs. The low-cost ETFs began trading March 30 on NYSE Arca and are the first investment products sponsored by FocusShares since being acquired in June 2010 by Scottrade Financial Services, Inc, the parent holding company of Scottrade, Inc.
The FocusMorningstar ETFs include a US Market ETF (FMU); Small Cap (FOS), Mid Cap (FMM) and Large Cap (FLG) ETFs; and 11 sector ETFs, including Basic Materials (FBM), Communication Services (FCQ), Consumer Cyclical (FCL), Consumer Defensive (FCD), Energy (FEG), Financial Services (FFL), Health Care (FHC), Industrials (FIL), Real Estate (FRL), Technology (FTQ) and Utilities (FUI).
JP Morgan offers a full suite of services for the development, launch and servicing of ETFs. Industry-wide, JP Morgan currently services 138 ETFs with total assets of over USD97 billion.
“JP Morgan has a history of innovation in the ETF space, with a commitment to the fund service business and pioneering technology,” says Robert Caporale (pictured), managing director, JP Morgan Worldwide Securities Services. “We look forward to working with Scottrade and FocusShares on these newly launched ETFs.”
Online trading of the Focus Morningstar ETFs is available commission-free to Scottrade customers and investment advisors using Scottrade Advisor Services as their custodian. Investors and advisors who are not Scottrade brokerage customers can purchase FocusTM Morningstar ETFs through their brokerage firms by paying applicable commissions.
“By selecting JP Morgan to service these ETFs, FocusShares has chosen a servicer with robust capabilities and leading technology, a well-suited alliance for FocusTM Morningstar ETFs,” says FocusShares President Erik Liik.
