State Street's Fund Connect ETF Portal Now Available in Australia

State Street Corporation (State Street) announced the Australian launch of its Fund Connect ETF Portal - a global online portal for the creation and redemption of exchange traded funds (ETFs), designed as a single point of access to many issuers.

"Australia is one of the fastest growing ETF markets in the Asia Pacific region and this portal will be an important solution to meet the needs of clients in the country," said Tim Helyar, country head for State Street in Australia. "Since 2018, ETF assets in Australia have risen from AU$41 billion to AU$147 billion1, a compound annual growth rate of 29 percent."

"Our newly launched Fund Connect ETF portal will complete State Street's ETF servicing solutions in Australia, bringing clients a dynamic suite of offerings to meet the growing ETF markets," said Frank Koudelka, Head of Global ETF Product Solutions at State Street.

For more than 15 years, Fund Connect ETF has been serving as a conduit between authorised participants (APs) and issuers globally. It provides a single point of access to approximately 1,100 ETFs in multiple currencies from more than 50 leading issuers. Currently, the portal has around 95 APs.

"In the Australian ETF market, the creation and redemption process still relies heavily on manual tasks including faxes," said Lori Coakley, global head of Fund Connect ETF at State Street. "We believe an electronic trading solution like the Fund Connect ETF Portal will bring significant value to ETF issuers and APs in Australia."

"Importantly, it will allow them to scale their businesses, drive efficiency and reduce operational risks," she added.

Fund Connect ETF's automated order placement solution, and comprehensive integration into order management systems, supply a direct link between market makers, APs, distributors, transfer agents, sub-advisors and sponsors, along with direct access to ETFs.

The Fund Connect ETF portal was officially launched in Singapore​ last May.