Bringing you live news and features since 2006 

State Street launches FIX API order connectivity for Fund Connect ETF Portal


State Street Corporation has announced the launch of a Financial Information eXchange (FIX) application programming interface (API) for its Fund Connect ETF platform, a global online portal for the creation and redemption of ETFs within the firm’s GlobalLink product suite.

The firm writes that the FIX enhancement, now available to all participants on the platform, offers connectivity and electronic communication through an integral industry protocol used in electronic trading. This will allow market participants to send orders directly from their order management system (OMS) to the Fund Connect ETF platform streamlining the ETF creation and redemption process.

“As the ETF market continues to evolve in complexity, issuers and market participants are increasingly looking to simplify and automate trading workflows to operate as seamlessly, efficiently and securely as possible,” says Lori Coakley, global business head of Fund Connect ETF. “By developing the FIX protocol for our Fund Connect platform, we are delivering on our strategy to expand connectivity and technology within the global ETF primary market to enable increased volumes and efficiency of orders.”

Fund Connect ETF also recently released the ability for issuers or their agents to approve AP creations and redemptions via RESTful API continuing to deliver increased connectivity and straight through processing for the ETF primary market.

“A digitised workflow is our goal for ETF servicing,” says Frank Koudelka, global head of ETF Solutions at State Street. “Our partners across the authorized participant community have signaled a willingness to invest in system-to-system connectivity. Expanding from proprietary APIs to the FIX industry standard will bring us closer to our goal of 100 per cent digital interactions. This is another example of innovations we’ve brought to our operating model as we celebrate 30 years of servicing ETFs since the launch of SPY.”

Fund Connect ETF is a global online portal for the creation and redemption of ETFs, designed as a single point of access to many issuers. The firm writes that for nearly 15 years, the portal’s automated order placement solution and comprehensive integration to order management systems has supplied a direct link between APs, distributors, order takers, sub-advisors and issuers. The new FIX connectivity method drives increased efficiency, reduced operational risk and enhanced communication between parties.

Latest News

Mirae Asset Securiites purchased European ETF market maker GHCO in May, 2023 and has now promoted Alex Gladkow from Chief..
The European Fund and Asset Management Association (EFAMA) has published its latest monthly Investment Fund Industry Fact Sheet, which provides..
In line with the report from Computershare this week which revealed the Aussie love of all things ETF, our non-North..
There were 10 new ETF offerings launched for the week, each with a distinct value proposition for investors.  Detailed below..

Related Articles

Katie Stockton, Fairlead Strategies
Connecticut-based Fairlead Strategies was the first ETF of ETFs winner in the ETF Express US awards, representing a new development...
Australian flag
A new report published by global financial services company Computershare has revealed key trends in the Australian ETF market during...
Eric Balchunas, Bloomberg Intelligence
ETFs will likely see an uptick of trillions in assets to their already strong flows over the next decade as...
Kim Gibb, Prescient Management Company
Prescient Management Company, an investment fund platform provider in South Africa, has launched the country’s first full-service, co-named platform for...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by