Comprehensive European ETF expertise

With a service model based on professionals in both Europe (Ireland and Luxembourg) and the United States, supported by dedicated technology that spans the globe, we can leverage our strength and depth for your benefit. 

For every product structure, our network of experts and fully integrated technology provide the results you deserve. Our professionals bring a tradition of innovation rooted in a foundation of financial strength to every client’s servicing solution.

 

Clients turn to us for: 

  • Operating model design and development
  • Launch management and control
  • Integrated authorised participant order management solution
  • Secondary market expertise
  • ETF technology and workflow expertise
  • Full regulatory compliance support
  • Tax and audit support
  • Full depositary services
  • Integrated common depository solution facilitating secondary market settlement

Rely on the strength of our European ETF services.

Fund administration

Full range of services for European ETFs

For our European domiciled products, we split the service model between our Dublin, Ireland processing centre and our teams in the United States, where required. With this model, we can leverage time zones to enable NAV and PCF distribution before European markets open. This facilitates clean and easy settlement into the European market infrastructure and contributes to the liquidity of the products on the secondary market.

 
  • Assisting with AP application form completion.
  • AP set up on ICE ETF Hub
  • Specialised onboarding (AML, FATCA, CRS)
  • Handling initial queries to invest
  • Tax and audit support
  • Liaison with common depository on settlement and related queries
  • Liaison with portfolio manager on subscriptions and redemptions

Depositary services

Customisable offerings for the Irish market

Our affiliate, U.S. Bank Depositary Services (Ireland), provides depositary solutions for the regulated Irish market including UCITS, UCITS - ETFs and alternative investment funds. AIFMD compliant depositary lite services are also offered to non-EU funds. We’re committed to supporting all your depositary needs with our customisable service offerings, state-of-the-art technology and global resources. We’ll work closely with you to determine your product’s specific requirements so we can provide the right selection of services.

 
  • Safekeeping of assets in custody
  • Recordkeeping and verification of assets
  • Trade and cash settlement
  • Straight-through processing
  • FX and tax services 

Services to meet your strategy:

  • Passive bond/equity
  • Active long/short
  • Derivative focused
  • Direct lending
  • Private equity/real estate
  • Hybrid funds

Global custody

Flexible, scalable custody solutions

U.S. Bank is a leading provider of comprehensive global custody solutions in more than 90 markets across 60 currencies. Seamless integration between our custody, transfer agent and fund accounting systems results in efficient and automated client reporting. Our ETF Management Tool is integrated with our custody platform and allows automated basket negotiation, trading and settlement, and bespoke reporting to the entire European ETF ecosystem.

 
  • U.S. and global securities
  • Safekeeping of assets
  • Cash, asset and currency reconciliation
  • Cash management servicing and reporting
  • Asset valuation and trade servicing
  • Entitlement processing
  • Mutual fund processing
  • ETF basket settlement
  • Class action processing and FX services
  • Network management

Technology and workflow

All core ETF applications are linked, through technology, into one consolidated service. This innovative approach includes the following core elements:

Fund administration

Combines local European ETF expertise with the strength and depth of a global network.

Transfer agency

Full integration to fund administration and common depository workflow.

Depositary

Full-service oversight and monitoring solution integrated to the fund services workflow to enable a seamless operating model.

Common depository

Our common depository is a fundamental part of our workflow and provides the crucial link between the ETF and the secondary market via the ICSD settlement infrastructure.

Headshot of Didier Delvaux

“Whether you’re a large, established firm, or a specialized shop looking to take your business to the next level, we have a full spectrum of ETF servicing solutions to help accelerate your success."

Didier Delvaux
Head of Global Fund Services Europe
Country Head Luxembourg

Cost-effective European white label ETF platform

U.S. Bank partners with HANetf to provide a practical European White Label ETF Platform for our global clients.



By adding HANetf’s unique European UCITS ETF service, U.S. Bank offers a comprehensive, time- and cost-efficient way to enter the market. This can reduce many of the challenges managers experience when coming to Europe, such as distribution.

Insights on the European ETF market

Article

ETF innovation in the U.S. and EU: A look at what’s ahead

Exchange-traded funds are seeing massive growth in American and European markets. Learn more about this asset class and what we might expect to see over the next few years.

Read more (PDF)

Article

3 U.S. ETF trends and their impact in Europe.

It’s commonly understood that fund trends in the U.S. eventually cross over to European markets. We sat down with one of our ETF expert Tony O’Brien at U.S. Bank, to discuss what he’s seeing in the U.S. right now and how it might affect asset managers in Europe.

Read more (PDF)

Article

25 years of ETF evolution

At this quarter-century milestone, we wanted to explore the development arc of ETF history over the last 25 years to provide insight into where they could be heading in the years ahead.

Read more (PDF)

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Disclosures

Investment and insurance products and services including annuities are:
Not a deposit • Not FDIC insured • May lose value • Not bank guaranteed • Not insured by any federal government agency.

U.S. Bank does not guarantee products, services or performance of its affiliates and third-party providers.

U.S. Bank Global Fund Services (Ireland) Limited is registered in Ireland, Company Number 413707. Registered Office at 24 - 26 City Quay, Dublin 2, Ireland. Directors: Eimear Cowhey, Ken Somerville, Hosni Shadid (USA), Barry O'Connor, Maureen Stanley. U.S. Bank Global Fund Services (Ireland) Limited is regulated by the Central Bank of Ireland.

U.S. Bank Global Fund Services (Guernsey) Limited is licensed under the Protection of Investors (Bailiwick of Guernsey) Law, 2020, as amended, by the Guernsey Financial Services Commission to conduct controlled investment business in the Bailiwick of Guernsey.

U.S. Bank Global Fund Services (Luxembourg) S.a.r.l. is registered in Luxembourg with RCS number B238278 and Registered Office: Floor 3, K2 Ballade, 4, rue Albert Borschette, L-1246 Luxembourg. U.S. Bank Global Fund Services (Luxembourg) S.a.r.l. is authorised and regulated by the Commission de Surveillance du Secteur Financier.

U.S. Bank Europe DAC Luxembourg Branch (trading as U.S. Bank Depositary Services Luxembourg) is registered in Luxembourg with RCS number B244276 and Registered Office: Floor 3, K2 Ballade, 4, rue Albert Borschette, L-1246 Luxembourg, regulated and authorised by the Central Bank of Ireland (CBI) as well as by the Commission de Surveillance du Secteur Financier (CSSF). Details about the extent of our authorisation and regulation by the CBI and the CSSF are available from us on request.

U.S. Bank Europe DAC, trading as U.S. Bank Depositary Services, is regulated by the Central Bank of Ireland and is registered in Ireland with the Companies Registration Office Reg. No. 418442. The registered office is Block F1, Cherrywood Business Park, Loughlinstown, Dublin 18, Ireland D18 W2X7.

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