The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:An Insti Bond Trading Platform Teams With an ETF Titan Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, May 13, 2022

An Insti Bond Trading Platform Teams With an ETF Titan

Reported by Neil Anderson, Managing Editor

An institutional bond trading platform is teaming up with an ETF titan on a new passive fund that seems to have landed some serious seed money.

Cyrus Taraporevala
State Street Global Advisors
Outgoing President, CEO
Yesterday, Rory Tobin, global head of the SPDR ETF business at State Street Global Advisors (SSGA [profile]), and Chris Concannon, president and chief operating officer of MarketAxess, unveiled the new SPDR MarketAxess Investment Grade 400 Corporate Bond ETF (LQIG on the NYSE Arca). The fund's inception date was Wednesday, and as of yesterday it already had $100.59 million in AUM. It comes with an expense ratio of 7 basis points (including a 2-bps fee waiver promised through May 11, 2023).

LQIG is a series of the SPDR Series Trust. SSGA Funds Management, Inc. serves as administrator and investment advisor. State Street Bank and Trust Company serves as custodian, securities lending agent, sub-administrator, and transfer agent. And State Street Global Advisors Funds Distributors, LLC (SSGA FD) serves as distributor.

David Marchetti, Frank Miethe, and Bradley Sullivan — a trio of vice presidents in SSGA's fixed income beta solutions group — will PM the new fund, which tracks the MarketAxess U.S. Investment Grade 400 Corporate Bond Index. MarketAxess Technologies Inc. is the index provider.

"This innovative SPDR ETF is designed to provide bond investors with access to U.S. corporate bonds with higher relative liquidity and tradability," Tobin states.

Concannon contrasts the new fund's index with others that "reflect an investment with broad market exposure."

"The launch of LQIG will be instrumental in supporting increased tradability in the traditionally fragmented and less liquid fixed income market," Concannon states.

The new fund's other service providers are Ernst & Young LLP as independent accounting firm and Morgan, Lewis & Bockius LLP as counsel. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2023: Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

  1. 34th Sub-Advised Funds Forum, Apr 3-4
  2. MFDF webinar - Impact of Market Performance on 2022 Annual Investment Firm Profitability and Economies of Scale, April 5
  3. MFDF - ESG Oversight: The Fundamentals in an Evolving Space for Fund Boards, April 12
  4. MFDF webinar - Interval and Tender Offer Funds: An Introduction For Fund Boards, April 18
  5. Investing With Impact - a WE Southern California and San Diego CFA Society joint event, April 18
  6. WE San Francisco: "Are E.S.G. Three Triggering Letters" panel discussion & networking event, April 19
  7. MFDF Regulatory Impacts on Fund Boards, April 20
  8. Morningstar Investment Conference 2023, Apr 25-27
  9. IMEA Product & Distribution Council Summit, Apr 26-27
  10. Envestnet Summit 2023 - Elevate, Apr 26-27
  11. ETF.com Awards, May 2
  12. Expect Miracles 4.01K, May 6
  13. MFDF In Focus: Board Oversight Lessons from Former Fund Directors, May 9
  14. 2023 Sohn Investment Conference, May 9
  15. 2023 MMI Emerging Asset Managers Forum, May 11-12
  16. Expect Miracles Distance Challenge, May 15-21
  17. 2023 MMI Gateway Foundation Opening Doors Impact Night, May 16
  18. WE US - breakfast at InsideETFs, May 22
  19. Miracle Maker Impact Celebration, June 1
  20. MFDF Director Discussion Series - Open Forum (Columbus, OH), June 1
  21. MFDF webinar - Latest Updates In Mutual Fund Litigation and Enforcement, June 6
  22. Expect Miracles East Coast Classic, June 8
  23. 2023 MMI Alternative Investments Forum, June 13
  24. Nicsa Fearless Leadership Symposium, June 14
  25. MFDF Director Discussion Series - Open Forum (Denver), June 20
  26. Crane Data's Money Fund Symposium, Jun 21-23

©All rights reserved to InvestmentWires, Inc. 1997-2023
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use