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

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

Rating:BNY Mellon Lands a New ETF Client Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, December 4, 2009

BNY Mellon Lands a New ETF Client

News summary by MFWire's editors

Oklahoma City-based Geary Advisors looked to New York in choosing a custodian for its Texas and Oklahoma state-based ETFs, selecting BNY Mellon Asset Servicing for the job, the company revealed Tuesday.

BNY Mellon, which holds $22.1 trillion in assets under custody and administration, will provide custody, fund administration, fund accounting and transfer agency services for the two ETFs.

The Oklahoma Index Fund and its sibling, the Texas Large-Cap Index Fund, both of which trade on the NYSE Arca, were launched back in September 2009. The funds were unveiled shortly after OOK Advisors -– a part of The Geary Companies and the investment advisor for both ETFs –- rechristened itself as Geary Advisors and expanded beyond its Oklahoma City roots.

“We are impressed with the high quality of the services that BNY Mellon provides for ETFs,” stated Keith Geary, chairman, president and CEO of The Geary Companies. “BNY Mellon is providing us with customized services that enable us to offer these targeted, innovative ETFs to the investment community.”

While more and more companies jump on the ETF bandwagon, Geary is carving out a niche among the crowd with the launch of the exclusively state-focused funds, aiming to capitalize on the strong economies and business environment Texas and Oklahoma offer.

"We are seeing heightened interest in ETFs, as investors demand a cost-effective method to target an increasing number of market niches," stated Joseph Keenan, managing director and head of relationship management for financial services companies at BNY Mellon Asset Servicing. "We are investing in the technology required to deliver ETFs that are easily scaleable for both active and passive investors."


Company Press Release

NEW YORK, Dec. 2 -- BNY Mellon Asset Servicing, the global leader in securities servicing, has been selected by Geary Advisors, LLC to provide custody, fund administration, fund accounting and transfer agency services for the Oklahoma Exchange-Traded Fund (NYSE Arca: OOK) and the Texas Large Companies Exchange-Traded Fund (NYSE Arca: TXF), the first two exchanged-traded funds (ETFs) to focus on businesses in specific states.

Geary Advisors, LLC, part of The Geary Companies Inc., is the investment advisor for both ETFs. "We are impressed with the high quality of the services that BNY Mellon provides for ETFs," said Keith Geary, chairman of The Geary Companies. "BNY Mellon is providing us with customized services that enable us to offer these targeted, innovative ETFs to the investment community."

"We are seeing heightened interest in ETFs, as investors demand a cost-effective method to target an increasing number of market niches," said Joseph Keenan, managing director and head of relationship management for financial services companies at BNY Mellon Asset Servicing. "We are investing in the technology required to deliver ETFs that are easily scaleable for both active and passive investors."

*BNY Mellon Asset Servicing* offers clients worldwide a broad spectrum of specialized asset servicing capabilities, including custody and fund services, securities lending, performance and analytics, and execution services. BNY Mellon Asset Servicing provides services through BNY Mellon and other related companies.

*BNY Mellon* is the corporate brand of The Bank of New York Mellon Corporation. BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $22.1 trillion in assets under custody and administration and $966 billion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.6 trillion per day. Additional information is available at www.bnymellon.com .



 

Edited by: Patricia Kelly


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

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q3Q2Q1
2023: Q4Q3Q2Q1
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:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. MMI Executive IQ - cohort 4, Jun 3-6
  2. 2024 MMI Board of Governors Retreat, Jun 3-5
  3. ICI webinar - Improving Fund Proxy Campaigns — Viewpoints from the Proxy Service Firm, June 4
  4. MFDF Conference of Fund Leaders Forum, June 5
  5. MFDF in-person outreach: Continuing Regulatory Impacts on Fund Boards, June 11
  6. WE Boston - Women In Wine, June 11
  7. IMEA Digital Marketing Roundable, June 12
  8. 2024 MMI Leadership Pathway Seminar, Jun 12-14
  9. 2024 Nicsa Fearless Leadership Symposium, June 12
  10. MFDF webinar - Digital Assets in the Fund Space (Part 1 of 2), June 12
  11. Expect Miracles East Coast Classic 2024, June 13
  12. WE South - Female Finance Connect, June 13
  13. IMEA webinar - Snapshot on the Talent Landscape, June 18
  14. 2024 MMI National Accounts Roundable, June 18
  15. MFDF webinar - Lessons Learned from the Regional Bank Volatility and the Impact on Registered Funds, June 18
  16. MFDF Director Discussion Series - Open Forum (Philadelphia), June 20
  17. New York YPEM Cornhole Classic, June 25
  18. Morningstar Investment Conference Conference 2024, Jun 26-27
  19. 2024 MMI Institutional Roundtable, June 26
  20. WE PNW Seattle - Pickleball and Networking, June 27
  21. MFDF webinar - Mid-Year Tax Update for Registered Investment Companies, July 16
  22. MFDF Director Discussion Series - Open Forum via Zoom, July 17
  23. MFDF Director Discussion Series - Open Forum (New York), July 23
  24. IMEA Portfolio Construction Roundtable, September 19
  25. MFDF Continuing Regulatory Impacts on Fund Boards program, October 15
  26. 2024 MMI Annual Conference, Oct 15-17




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use