BNP Paribas’ Securities Services division has partnered with SIX-owned ETF fintech and data specialist ULTUMUS to enhance its ETF servicing capabilities. In a press release, ULTUMUS reveals that the bank will be using its COSMOS platform to “handle the lifecycle of its ETF-related operations, from approving new creation and redemption orders through to settlements”.

Through automated processes and smart programmes that flag validation errors, COSMOS is expected to improve efficiency while providing “an audit trail of steps and stages, which is helpful for post-trade record keeping and retention”. Arnaud Claudon, head of asset owners and managers client lines at BNP Paribas’ Securities Services, says that the partnership will allow the bank to “optimise ETF efficiencies across multiple markets and create a consistent user experience” for its clients and their authorised participants.