Invesco Canada and Aequitas Innovations announced this morning the expansion of its Platform Traded Funds trading system to include other fund companies operating in Canada. Trading like ETFs but without the need for an actual stock exchange listing or bid-ask spread, IIROC member firms will be able to utilize the PTF platform using their existing equity-trading system.
For mutual fund companies it’s a potential game changer.
“We have listened to the needs of the mutual fund industry and investment advisors across Canada. It was abundantly clear that mutual fund companies want to sell actively managed products via an efficient and accessible process. At the same time, investment advisors seek low cost actively managed funds to add to their portfolios,” stated Jos Schmitt, President and CEO, Aequitas Innovations. “Our nimble operations and technological agility, leveraging Invesco’s intellectual property, has allowed us to rapidly respond to this demand.”
Invesco Canada is rolling out Aequitas PTF Connect after operating the platform for its own group of funds over the past two months with great success.
“We believe our PTF solution was a breakthrough for investing and has solved a number of challenges unique to fee--‐based investing,” added Peter Intraligi, President and Chief Operating Officer, Invesco Canada. “Based on discussions we have had with other companies, we investigated multiple avenues to make PTFs available on an industry--‐wide basis for the benefit of all clients.”
PTF Connect should go live by the end of the first quarter 2016.