Home Breadcrumb caret Industry News Breadcrumb caret Industry Asset servicing for PTFs launches at CIBC Mellon The firm’s investment fund clients can now offer PTF versions of their funds on NEO Connect By Staff | October 4, 2019 | Last updated on October 4, 2019 1 min read © Wang Song / 123RF Stock Photo CIBC Mellon has launched asset servicing that will allow its investment fund clients to offer platform-traded funds (PTFs). PTFs are a class or series of existing investment funds that trade at end-of-day net asset value on the NEO Connect platform. They can be traded in bulk, allowing advisors to place purchase and redemption orders across multiple accounts simultaneously. All PTF transactions are subject to the same fees, regardless of size, and are not based on a threshold. CIBC Mellon will now act as a clearing and settling agent for its investment fund clients, allowing them to create PTF versions of their funds. “We are pleased to support our clients by helping them simplify the PTF administration process and deliver new cost-efficient fund solutions for Canadian investors,” Ronald C. Landry, CIBC Mellon’s head of product and Canadian ETF services, said in a statement. Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo