HANetf, Europe’s first independent ‘white label’ UCITS ETF platform has confirmed a further tranche of Authorised Participants (APs) for its range of on-platform funds: Citigroup Global Markets, JP Morgan Securities and Société Générale joined the network of global banks and market-making firms, with Barclays Capital becoming an AP in July.
HANetf operates an open market making model, designed to promote deeper liquidity and competitive two-way pricing for on-platform ETFs. Asset managers who would otherwise set up their own ETF capability can face the time and cost impact of having to establish their own AP network from scratch.
Founded by co-CEOs Hector McNeil and Nik Bienkowski, the UK-headquartered firm provides prospective ETF issuers services including ETF product development support, operations, capital markets, sales, marketing and distribution. HANeft describes its platform as removing “the barriers to entry for new entrants wanting to enter the European ETF market, making it faster, easier and more cost-efficient for asset managers to launch ETFs in Europe”.