Brexit and ETF Migration

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Brexit and ETF Migration

July 2019

By Tom Ahern, Rob Rushe, Rosa Scappatura

The Brexit and ETF Migration paper outlines the anticipated transfer of ETF services to a new jurisdiction (Belgium) and the potential for adoption of a new model (International Central Securities Depository – ICSD).

It highlights some of the challenges that ETF managers distributing in Europe may need to be aware of, provides details about the practicality of the migration, and outlines distinctive features of the ICSD model.

 

Together with Euroclear, a Belgium-based securities settlement company, BNY Mellon experts Tom Ahern, Rosa Scappatura and Rob Rushe highlight market observations, compare both international and domestic models, recommend how to best prepare for the migration, and focus on the functionality of the ICSD, preparation timelines and the benefits for fund managers when working with a sole service provider.

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Download the full article to learn more about the ICSD model and how cost-efficient, error-reducing features of this issuance and settlement structure can be an alternative for fund managers taking a wait-and-see approach to the Brexit and ETF migration.

Tom Ahern

Global Head of Relationship Management, Corporate Trust

Rob Rushe

Head of ETF Services, EMEA

Rosa Scappatura

Head of ICSDs Relationships, Corporate Trust

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