Source welcomes Northern Trust’s agreement to acquire Bank of Ireland Securities Services (“BoISS”). BoISS has been a core partner for Source throughout the development of our business and has continually strived to innovate and adapt to the needs of our groundbreaking approach to.…
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creating and servicing Exchange Traded Funds (“ETFs”). In the last year and a half, Source has moved from launch to processing some of the largest numbers of creations and redemptions among European ETF providers. BoISS’s bespoke systems developments and focus on customer service have seamlessly supported this ramp up in activity.
BoISS’s acquisition by Northern Trust underpins its ability to continue to invest in the business and to deliver the highest quality service. Founded in 1889, Northern Trust has US$4.1 trillion of assets under custody, a Tier 1 ratio of 13.6% and is rated A1/AA- by Moody’s and S&P with a stable outlook.
Commenting on the announcement, Ted Hood, CEO of Source, said, “BoISS has been an outstanding partner in building our business and we look forward to continuing to work together.”
Source: ETFWorld – Source
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