ULTUMUS, an ETF FinTech and data expert owned by SIX Group, which also owns the Swiss Exchange, has announced that it is entering into a strategic partnership with BNP Paribas’s Securities Services business, a global multi-asset servicing specialist with USD 13.0 trillion in assets under custody and USD 2.7 trillion in assets under administration, for ETF Servicing Agent capabilities. As part of the partnership, Securities Services will leverage ULTUMUS’ award-winning smart operational create/redeem COSMOS platform.
ETF clients of BNP Paribas’s Securities Services business will benefit from the combined expertise of a leading global custodian and that of ULTUMUS, a fast-growing tech-enabled services provider. ULTUMUS’ COSMOS platform has been selected by the bank to handle the lifecycle of its ETF-related operations, from approving new creation and redemption orders through to settlements. COSMOS’ automated processes, user interfaces (UIs), handy dashboards and application programming interfaces (APIs) help enhance efficiency, while smart programs flag up potential validation errors. All of this provides an audit trail of steps and stages, which is helpful for post-trade record keeping and retention.
“We are excited to begin working with BNP Paribas’s Securities Services business and have them as one of our foundational banking clients,” comments Bernie Thurston, CEO of ULTUMUS. “COSMOS builds on ULTUMUS’ extensive dynamic library of near-real time global data on ETFs, their underlying portfolios and portfolio composition files, provided for leading ETF players. It is natural and logical to plug these into order flow and workflow management to complete the operational jigsaw.”
Arnaud Claudon, Head of Asset Owners and Managers Client Lines, Securities Services at BNP Paribas, further comments: “As our client base continues to invest in and create new ETFs, we see partnering with ULTUMUS as a way to help accompany our clients’ growth and further expand our integrated banking offering. This includes our ETF Servicing Agent, Authorized Participant and Market Making capabilities. Our work together will allow us to optimize ETF efficiencies across multiple markets and create a consistent user experience for our clients and their Authorized Participants.”
ULTUMUS is a pure play ETF specialist owned by SIX Group, which also owns the Swiss Exchange. ULTUMUS capture, normalise and distribute global daily ETF and INDEX composition data across the market today - reducing risk and offering key uplift in performance, flexibility and accuracy. www.ultumus.com
About Securities Services at BNP Paribas (securities.cib.bnpparibas)
BNP Paribas’s Securities Services business is a leading global custodian providing multi-asset post-trade and asset servicing solutions to buy-side and sell-side market participants, corporates and issuers. With a global reach covering 90+ markets, its custody network is one of the most extensive in the industry, enabling clients to maximize their investment opportunities worldwide.