SGSS is a leading service provider on the European ETF market, acting as depositary bank, centralising/transfer agent and fund accountant for around 300 ETFs domiciled in France and Luxembourg.
ETF Fund Services
ETF LINK: A comprehensive range of Exchange-Traded Fund services
Platform of tailor-made solutions and services aimed at promoting ETF distribution.
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ETF Link brings together all services SGSS offers to support ETF issuers, as part of its depositary, transfer agent and administration services. The SGSS offer is aimed at ETF issuers and provides special services for their authorised participants*.
*Market makers (financial intermediaries) who have the right to create / redeem ETF shares.
Key features & benefits
SGSS offers broad geographic coverage in Europe and boasts a team of ETF specialists in charge of market watch, designing solutions to support the business of ETF issuers and their authorised participants, assisting in-house teams (training, business line support) and overseeing development projects. This specialised team is the primary contact point for clients, to discuss their needs and the solutions they want to see implemented.
The service range is for all UCITS exchange-traded fund and covers the four main countries of domicile for ETFs in Europe: Ireland, Luxembourg, France and Germany.
SGSS can issue ETFs in CSDs (Central Securities Depositories) or in International CSDs (International Central Securities Depositories). SGSS has also been mandated by Euroclear Bank and Clearstream Banking Luxembourg as a Common Depositary.
ETF issuer services have represented a flagship business for Societe Generale group for 20 years. In addition to SGSS services, Societe Generale group serves ETF issuers as an authorised participant and market maker, a swap counterparty and an index provider (SG Index). SG stepped up its commitment in this sector in 2020 with the acquisition of Commerzbank’s Equity Markets & Commodities business, including the ETF franchise.
SGSS offers a wide range of services meeting the major needs of authorised participants:
- A platform via a web portal – decked out in the colours of the ETF issuer – so that authorised participants can place subscription/redemption orders, thus providing direct and efficient access to SGSS and allowing the ETF issuer to manage primary market operations
- Capacity to handle various order options (cash, in-kind, directed basket…) for physical ETFs
- Special oversight of order settlement on the ETF primary market and associated reports
SGSS also provides many additional services to round out the offer, in particular:
- Dissemination of Net Asset Values prior to market opening, production and dissemination of PCFs (portfolio composition files), associated KPIs
- LRA (Local Representative Agent) services in 13 countries (United Kingdom, Germany, Switzerland, Italy, Spain, etc.)
- Production of factsheets
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