Bloomberg announced that ETF Shares, an emerging Australian ETF issuer has adopted BSKT, Bloomberg's ETF creation and redemption tool to help automate ETF primary markets workflows, increasing operational efficiency and the ability to better manage risk. Using BSKT will enable ETF Shares to efficiently distribute portfolio composition files for each ETF to authorized participants at the end of each trading day.

ETF Shares will also use BSKT to make its primary market liquidity accessible via the Bloomberg Terminal, which provides a centralized location to access ETF baskets, submit create and redeem requests electronically, and get real-time updates on the lifecycle of each order. Standardized views of fund flows into each ETF will assist ETF portfolio managers to efficiently approve actions, such as pre-trade compliance checks and tickets tied to ETF create and redeem workflows. Once an order has been approved and settled, BSKT can be used to automate distribution of fund notifications and updates to ETF asset servicing providers

"At ETF Shares, we enjoy partnering with providers who are willing to listen clients' feedback and make their products better," said Cliff Man, Founder and CEO at ETF Shares.

"We are pleased to provide ETF Shares with an innovative solution that supports the creation, management and operation of a growing number of ETFs," said Ben Pool, Head of Sales for Australia and New Zealand at Bloomberg. "By removing operational bottlenecks and supporting more flexible, efficient basket creation, BSKT helps firms like ETF Shares better meet liquidity demands, accelerate time to market, and deliver greater customization for clients."

BSKT is a part of Bloomberg's comprehensive ETF suite of products that support the ETF lifecycle, and are used by investors, issuers, and liquidity providers. BSKT is used by market-makers and authorized participants to create baskets of the underlying ETF assets in an automated way, creating greater efficiencies across the entire investment lifecycle. BSKT is also part of Bloomberg's Electronic Markets solutions, which include RFQe, Bloomberg's ETF Request-for-Quote (RFQ) service that supports secondary market ETF trading.