ETF - Market Making Solutions
Designed to be independent of technological constraints using industry-standard protocols
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The ETF – MM System is offered to:
The DirectFN ETF Market Making Solution supports the key participants in the ETF lifecycle, including fund managers, market makers, and custodians.
It enables fund managers to maintain ETF composition, AUM, iNAV, and end-of-day NAV; helps market makers manage ETF inventory through unit creation and redemption; and supports custodians in handling share transfers and settlement of the underlying securities.
An integrated solution with DirectFN OMS and AMS to ensure seamless data flow, accurate record-keeping, and efficient ETF market operations.
1. Fund managers manage ETF composition, NAVs, iNAV, and AUM.
2. Market makers create and redeem ETF units while maintaining liquidity inventory.
3. Custodians manage share transfers and settlement of underlying securities.
4. All stakeholders benefit from connected workflows across OMS, AMS, and ETF operations.
Product Details
DirectFN ETF Market Making Solution streamlines ETF definition, basket composition, iNAV and NAV calculation, unit creation and redemption, market maker workflows, and custodian integration through one connected platform.
ETF Definition & Composition
Define ETFs with underlying securities, weightings, basket composition, cash components, and bonus shares to support accurate unit creation and redemption.
AMC Onboarding & Portal Access
Enable asset management companies to register, submit onboarding requests, complete due diligence, and access dedicated portals once approved.
iNAV & NAV Calculation
Generate real-time iNAV during market hours, calculate end-of-day NAV, support ad-hoc calculations, and manage multiple ETFs with AMC-level restrictions.
Unit Creation & Redemption
Support market maker requests for unit creation and redemption through an integrated workflow involving market maker submission, fund manager approval, and custodian execution.
Market Maker Integration
Integrate with DirectFN OMS to help market makers view holdings in real time, generate unit requests, and place market orders for missing underlying securities.
Custodian Integration
Enable custodians to manage ETF basket share transfers between fund managers and market makers, with updated holdings communicated back for reconciliation.
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