ETF LIQUIDITY PROVIDER OF THE YEAR
WINNER: Jane Street
In some ways, “liquidity providers” is an anemic description of what competitors in this category do. Yes, they act as trading partners, transacting with their largest institutional clients on demand. But they serve a much more vital role in the ETF ecosystem, often acting as authorized participants, and helping buyers and sellers find each other in the most efficient way possible.
This year’s winner, Jane Street, has grown rapidly in the past few years, and now boasts more than 90 dedicated ETF traders, doing over $6.5 billion in business a day. Jane Street is also well-known for its commitment to charitable giving and diversity, regularly being heralded as one of the best places to work on Wall Street.
Commenters noted Jane Street’s commitment to helping not just the giant ETF issuers, but new entrants with small funds, where liquidity can be the difference between growth or closure, making them one of the best places to work with on Wall Street too.
ETF CUSTODIAN OF THE YEAR
WINNER: Brown Brothers Harriman
A good ETF custodian often wears many hats. It’s not enough to just hold securities for a fund; usually custodians perform dozens of other services as well, including net asset valuation calculation, dissemination, tax support, settlements and securities lending.
With more than $500 billion in ETF assets under custody, Brown Brothers Harriman (BBH) has proven itself a capable one-stop shop for the ETF industry. Over the past 15 years, the firm has partnered with some 39 asset managers and ETF sponsors around the globe, working with large, established players and small, innovative newcomers alike.
Known for rolling up its sleeves, BBH’s experts partner with prospective issuers throughout the life cycle of a fund, guiding ETFs from concept to launch and beyond. Most investors never see any of that hard work, not unless something goes wrong. With BBH, it rarely does.