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THE SANDWICH INDEX

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Covid Recovery Index

Obviously as part of my job, I spend rather a long time reviewing indices for how they achieve their objectives and the mathematics behind various structures.

 

There have previously been launched  ETFs, that have been aimed at the Covid vaccines or the recovery structures put in place products such as: GERM, focussed on biotech companies that are focussed on testing and treatments of infectious diseases. VIRS, aimed at US companies that protect against biological threats, and the more sedate EUBO aimed at the investment debt issues as part of the recovery fund.

 

However none of these are as simple or as intelligent measures of recovery as the Bloomberg Pret Index. I have to admit I initially laughed when I read this index but the more I looked into it, you have to be impressed as to the concept, a more accurate measure of people returning to working cannot probably be created compared to the simple sandwich, I look forward to soon sampling an egg and cress, yet again. 

 

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Bernie Thurston

Bernie Thurston is the founder and CEO of Ultumus, a leading provider of ETF and index data, calculation, and workflow solutions. With over 20 years of experience in financial technology, Bernie has been at the forefront of index and ETF innovation since 2003.

His finance career began at Markit, where as Managing Director for Equities he designed and developed products for index and ETF composition and dividend forecasting from 2003 to 2011. He then founded and led DeltaOne Solutions as Managing Director, building it into a global provider of index and ETF trading data and technology services. The company managed over 100,000 multi-asset class products before being acquired by Markit in 2015.

Following the acquisition, while working for an ETF issuer, Bernie identified fundamental issues in how index and ETF data was represented across the industry. This led him to found Ultumus in 2016, building solutions for ETF primary market operations. Under his leadership, Ultumus has grown into a market leader serving major financial institutions globally, with its ETF Order Management System (OMS) supporting create and redeem workflows worldwide and its PCF platform calculating and distributing portfolio composition files for ETF issuers across every major market.

Bernie sold Ultumus to SIX Group in 2021, where it continues to expand across Europe, North America, and Asia-Pacific. Known for building lasting teams and leveraging cutting-edge technology, Bernie is focused on establishing Ultumus as the backbone of the global index and ETF industry through standardisation and automation.

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