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Modern Platform

USA

WisdomTree lists modern platform ETF

In what seems like an interesting spin on a popular area of product development, WisdomTree is listing a new “modern platform” ETF. The WisdomTree Modern Tech Platforms Fund (MDPL) will invest in companies that make good dollar from websites and the tech and backend functions that support them. Of particular interest are businesses in payments, social media, video games, content and communications.

MDPL will track an equal weighted self-index of European and North American platform companies. Companies must meet certain basic size and liquidity requirements to be eligible. Eligible companies in the platform ecosystem are then included or excluded based on WisdomTree’s assessment of their:

  1. business model; 
  2. customer or participant relationship; 
  3. revenue source. 

The index is reconstituted and rebalanced annually.

Nancy Davis changes her mind

We reported on the launch of the Quadratic Interest Rate Volatility and Inflation Hedge ETF in December last year. The fund appeared to be a joint venture between Nancy Davis, the famed trader and Goldman Sachs alum, with ETF Series Solutions, a US Bancorp-backed trust.

However that arrangement appears to have gone up in smoke at the last minute. Under a newly written prospectus the fund will now be partnered with KraneShares, the China ETF specialist. And trade under a different ticker: IVOL.

 


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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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