The low-cost ETFs began trading March 30 on NYSE Arca and are the first investment products sponsored by FocusShares since being acquired in June 2010 by Scottrade Financial Services, the parent holding company of Scottrade.
JP Morgan offers a full suite of services for the development, launch and servicing of ETFs.
FocusShares president Erik Liik said by selecting JP Morgan to service these ETFs, FocusShares has chosen a servicer with robust capabilities and leading technology, a well-suited alliance for Focus Morningstar ETFs.
JP Morgan Worldwide Securities Services managing director Robert Caporale JP Morgan has a history of innovation in the ETF space, with a commitment to the fund service business and pioneering technology. They look forward to working with Scottrade and FocusShares on these newly launched ETFs.
Industry-wide, JP Morgan currently services 138 ETFs with total assets of over $97bn.
