State Street Launches FIX API for Fund Connect ETF Portal

State Street Corporation 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 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. 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. Fund Connect ETF, a key portal within State Street’s award winning GlobalLink product suite, is a global online portal for the creation and redemption of ETFs, designed as a single point of access to many issuers. For nearly fifteen 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 communications between parties.