Under the terms of the agreement, SEI will provide a complete outsourcing solution that includes fund administration, accounting, investor servicing, distribution and authorised participant (AP) processing for Global Xâs ETFs in a straight-through electronic processing environment. SEI was selected following a thorough search process that included the major providers in the ETF space. The companyâs best-in-class approach, scalability, and straight-through processing environment were pointed to as key factors in the decision.
âSEIâs fully integrated solution provides a comprehensive, single source environment that isnât possible when working with multiple vendors,â said Bruno del Ama, CEO of Global X Management. âWe are launching funds in different countries and SEIâs experience and knowledge in the ETF business is a big advantage for us. We know that they have the depth to service us now and, more importantly, they have the ability to scale this offering with us as we grow â and thatâs critical.â
SEI is the leading processor for ETF trades for authorised participants. With its first family of ETFs, Global X is launching global ETFs focusing on the Nordic region, Colombia, Argentina, Peru, Philippines, and Egypt.
âGlobal Xâs goal is to focus on their advantage of being a first mover into their specific target markets and scale quickly. Our complete solution is designed to enable them to achieve that goal while relying on SEI to provide the heavy lifting and infrastructure,â said John Alshefski, Head of Business Development for SEIâs Investment Manager Services division. âWeâre pleased to partner with Global X to help them achieve their business objectives.â