BBS Securities has signed up to offer Aequitas PTF Connect, the fund technology platform from Aequitas Technology Services (Aequitas Connect).
In addition to bolstering BBS Securities' portfolio management business (ICPM), as an early adopter of PTF Connect, this move lays the foundation for Virtual Brokers, the discount brokerage arm of BBS Securities, to ultimately become the first discount brokerage to offer PTFs.
Aequitas PTF Connect is an industry shared service available to mutual fund companies and dealers in Canada, enabling PTF mutual fund orders to be entered and settled like exchange traded funds. Investment advisers simply enter the unique ticker symbol and number of units they wish to order through their existing infrastructure.
"Once again we pride ourselves on the merit of finding ways to add value to our full service clients and this is a big step towards providing better options and services for them. We hope this is recognised as we ultimately work towards making PTFs also available to clients of Virtual Brokers," says Kambiz Vatan-Abadi, chief operating officer of BBS Securities and Virtual Brokers.
"We are very pleased to have onboarded BBS Securities on Aequitas PTF Connect," says Karl Ottywill (pictured), chief operating officer, Aequitas Technology Services. "BBS is once again is demonstrating its leadership and innovative nature in moving quickly to deliver a streamlined, low-cost solution to their investment advisors and their clients."
