MINNEAPOLIS–(BUSINESS WIRE)–US Bank today announced that it will leverage Intercontinental Exchange’s (NYSE: ICE) ICE ETF hub to provide customers with seamless electronic access to the ETF primary market. ICE ETF Hub, which recently surpassed $1 trillion in notional creation/redemption orders, is an industry-wide open-architecture technology solution, providing a standardized and simplified process for creating and redeeming ETF shares.
Through this relationship, US Bank clients will have access to the ICE ETF Hub platform, which currently supports equity, fixed income, derivatives, commodities and multi-asset ETFs listed in the United States. US Bank serves over 70 ETF customers, with over 330 ETFs. Clients will also have access to ICE’s automated functionality, which allows core ETF market participants to trade and assemble custom basket proposals.
“Intercontinental Exchange’s ICE ETF hub brings important new innovations and protocols to the process of creating and redeeming shares for ETFs,” said Joe Neuberger, president of US Bank Global Fund Services. “We are excited to bring these new efficiencies to our customers and deliver a seamlessly connected end-to-end solution from order processing to clearing.”
“We are delighted to work with US Bank as they continue to build on their leadership position in providing custody services to the ETF issuer community,” said Peter Borstelmann, Chairman of ICE Bonds. “The standardization we’ve brought to the primary ETF market and recent enhancements to custom basket negation technology and access to ICE’s secondary bond market will deliver compelling new efficiencies for US Bank and its customers.”
About US Bank
US Bancorp, with nearly 70,000 employees and $567 billion in assets as of September 30, 2021, is the parent company of the US Bank National Association. The Minneapolis-based company serves millions of customers locally, nationally and globally through a diverse array of businesses: personal and business banking; payment services; Business and corporate banking services; and wealth management and investment services. The company has been recognized for its approach to digital innovation, social responsibility and customer service, including being named one of the 2021 World’s Most Ethical Companies and Fortune’s Most Admired Superregional Bank. Learn more at usbank.com/about.
About intercontinental exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that provide our clients with access to critical workflow tools that increase transparency and operational efficiency. We operate exchanges, including the New York Stock Exchange, and clearinghouses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide insights, analytics and platforms that help our clients take advantage of opportunities and operate more effectively. At ICE Mortgage Technology, we are transforming and digitizing the US residential mortgage process, from consumer engagement to loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Here you will find information regarding other trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates. Key information documents for certain products covered by the EU Regulation on packaged retail and insurance-based investment products can be accessed on the website of the relevant exchange under the heading “Information Documents keys (KIDS)”.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 – Statements in this press release regarding ICE’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ materially from those contained in the forward-looking statements, see ICE’s filings with the Securities and Exchange Commission (SEC), including, but not Limit thereto, the risk factors in the Annual Report on Form 10-K for the fiscal year ended December 31, 2020, as filed with the SEC on February 4, 2021.
About ICE Bonds
Securities products and services are offered by ICE Bonds Securities Corporation or ICE Bonds, member FINRA, MSRB, NFA and SIPC. The information contained herein has been prepared for informational purposes only and should not be construed as investment advice, nor does it constitute an offer to sell or a solicitation of an offer to buy any financial product(s). (s), are intended for institutional clients only and are not intended for the use of retail clients.
* An authorized participant is an institutional firm authorized by an ETF issuer to facilitate creations or redemptions of ETF shares.
SOURCE: Intercontinental Exchange
US Bank Global Fund Services is a wholly owned subsidiary of US Bank, NA Custody and lending services are offered by US Bank, NA
US Bank Global Fund Services (Ireland) Limited is registered in Ireland with the Companies Registration Office Reg. No. 413707 and registered office: 24-26 City Quay, Dublin 2, Ireland. US Bank Global Fund Services (Ireland) Limited is authorized and regulated by the Central Bank of Ireland under the Investment Intermediaries Act 1995.
US Bank Global Fund Services (Guernsey) Limited is authorized under the Investor Protection (Bailliage of Guernsey) Act 1987, as amended by the Guernsey Financial Services Commission, to carry on controlled investment activities in the Bailiwick of Guernsey.
The investment products and services are:
NOT A DEPOSIT • NOT INSURED BY THE FDIC • MAY LOSE VALUE • NOT BANK GUARANTEED • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
US Bank does not warrant the products, services, or performance of its affiliates and third-party vendors.