State Street: Launches FIX API connectivity to simplify ETF creation
- State Street announced the launch of a 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
- This will allow market participants to send orders directly from their order management system (OMS)
- Fund Connect ETF also recently released the ability for issuers or their agents to approve AP creations
- The new FIX connectivity method drives increased efficiency, reduced operational risk
