ETF Order Management System for Creation and Redemption
Automate ETF primary market workflows from order submission through pricing, approval and settlement, with one connected platform for issuers, APs and fund servicing agents.
ETF orders from creation to settlement, in one place
Streamlining ETF Primary Markets
An ETF order management system (OMS) manages primary market ETF orders between issuers, authorised participants, fund administrators, brokers, custodians and transfer agents. Ultumus ETF OMS brings the full ETF order lifecycle into one shared environment, from order submission to pricing, approval and settlement.
Built specifically for primary market order management, this ETF creation and redemption software coordinates issuance and redemption activity rather than secondary market trading, a distinction worth keeping in mind when comparing ETF order management systems.
Visit the ETF glossary for explanations of authorised participants, creation and redemption, baskets and other primary market terminology.
How does ETF OMS reduce bilateral connections and improve order visibility?
Ultumus replaces separate counterparty links with multi-counterparty order management via a single access point. ETF issuers, authorised participants, fund administrators and brokers can work across the same connected network instead of maintaining multiple bilateral workflows.
A shared dashboard provides one view of primary market order status across counterparties. This gives users visibility from creation to settlement, reduces manual chasing and supports faster operational exception management when discrepancies arise. Existing authorised participant connectivity, as well as issuer and broker connectivity also reduce the integration burden for new relationships.
- Issuers
- Authorised participants
- Fund administrators
- Brokers
- Custodians
- Transfer agents
How does ETF OMS automate creation and redemption from order submission to settlement?
Submit orders.
Users select the order submission route that fits their existing operating model.
Route and connect.
The platform supports authorised participant workflows, custodian integration, and transfer agent connectivity across the primary market network.
Review and resolve.
Participants review order details, flag discrepancies and work from a single agreed order record.
Approve and track.
Configurable permissions and maker/checker stages control the ETF creation and redemption process, with a complete transaction record for audit and regulatory oversight.
Settle.
The settlement workflow carries approved orders through confirmation and integrates with relevant transfer agents, custodians and securities depositories. This enables straight-through processing (STP) across the ETF creation and redemption workflow.
Features
Flexible order submission
Submit orders through the Atlas UI, bulk order upload, API integration or FIX connectivity using the FIX protocol.
Connected data and straight-through processing
A normalised data flow supports straight-through processing (STP) across the ETF creation and redemption workflow, reducing manual rekeying and disconnected handoffs.
Corporate actions processing
Manage relevant corporate action activity within the connected primary market workflow and maintain a consistent order record across participants.
Exception management
Identify discrepancies and manage operational exceptions in one shared environment.
Trading and settlement adjustments
Manage required adjustments as approved orders progress through the settlement workflow and relevant participant connections.
Security, approvals and audit trail
Apply role-based access control, MFA and SSO and maker/checker controls, with a complete transaction audit trail for regulatory and operational oversight.
Ready to simplify your ETF primary market workflow?
See how one connection can reduce bilateral integrations, centralise order status and automate the journey from creation to settlement.
Who benefits from ETF OMS?
For fund admins
Fund administrators and their teams gain a single connected workflow across issuers, APs, custodians, and transfer agents. Centralised order status, real-time exception management, and straight-through processing (STP) help reduce manual chasing, duplicate connections, and processing bottlenecks.
For APs
Authorised participants gain access to one workspace for ETF creation and redemptions, issuer relationships and order-status tracking. Orders can be submitted through the platform UI, bulk upload, API or FIX connectivity, making it easier to work across multiple issuers without maintaining separate workflows.
For issuers
Issuers gain oversight of the ETF creation and redemption process, faster access to the connected AP network and a scalable operating model for an ETF fund launch or new share class. A single view from order submission to settlement helps teams monitor activity and onboard new participants more efficiently.
How does ETF OMS support security, controls and regulatory oversight?
ETF OMS uses role-based permissions with MFA or SSO, maker/checker controls at each stage and complete transaction recording. Every submission, approval, status change and settlement event can be retained in the transaction audit trail, helping risk and compliance teams evidence who performed each action and when.
These controls support primary market order management without relying on disconnected email trails or manual spreadsheets. They also give firms a consistent governance layer across submission methods and counterparties.
How quickly can a new issuer or authorised participant be onboarded?
New participants connect to the existing network rather than building every bilateral relationship from scratch. Ultumus works with the issuer, AP, fund administrator and relevant service providers to configure permissions, submission routes and integration requirements. The precise onboarding timeline depends on the required connections and testing, but the established network reduces duplicate setup and supports faster ETF primary market automation.
Downloads
Explore the ETF OMS platform, implementation approach and client outcomes in more detail.
ETF OMS Snapshot
See how Ultumus ETF OMS supports connected ETF primary market workflows from order submission through settlement.
ETF OMS Case Study
Discover how a major regional bank achieved greater ETF servicing independence through a strategic technology partnership.
ETF OMS & PCF Brochure
Explore how PCF Calculation and ETF OMS support connected creation and redemption processes from basket preparation through settlement.
One connected platform
ETF OMS sits within Ultumus ETF solutions, alongside PCF Calculation & Distribution and ETF Managed Data services. Clients using more than one ETF service gain one connected environment for data, PCF calculation, orders and support, rather than managing several disconnected tools and providers. All services can be accessed through Ultumus Atlas, the browser-based interface for Ultumus services, or directly via API.
Frequently Asked Questions
How can ETF creation and redemption orders be submitted?
ETF creation and redemption orders can be submitted through FIX connectivity, the Atlas UI, bulk order upload or API integration. This flexibility allows issuers, authorised participants and fund administrators to choose the order submission method that best fits their existing operating model.
What security and compliance controls does ETF OMS provide?
ETF OMS provides role-based access control with MFA and SSO, maker/checker controls at every stage and complete transaction recording. The resulting transaction audit trail helps risk, compliance and operations teams evidence who performed each action and when.
Does ETF OMS support settlement connectivity to CSDs?
Yes. ETF OMS manages the order lifecycle through settlement and connects with custodians, transfer agents and clients' systems of record. It supports settlement to international CSDs through Clearstream and Euroclear, as well as local CSD platforms in individual markets.
Can ETF OMS help convert existing mutual funds into ETF share classes?
Yes. ETF OMS can support the operational workflow required to launch an ETF share class of an existing mutual fund. This can be faster and less expensive than launching a new fund, while the Multifonds partnership connects fund accounting with ETF trading and settlement on an integrated platform.
Is ETF OMS the same as COSMOS?
Yes. ETF OMS represents the move of COSMOS across to the Ultumus Atlas platform – centralising data, calculation, and ETF workflow on a common technology stack.
Other Ultumus solutions
Index Data Services.
Consistent, raw and validated. Every number explainable, with post-processing documented in the API.
- Coverage:
- 5M+ indices
- Providers:
- 400+ globally
- Speed:
- Provider to API in minutes
ETF Data Services.
Sourced from issuers, normalised, validated and delivered. One connection replaces many.
- Coverage:
- 17,000+ ETFs
- Single source:
- One format across every issuer
- Delivery:
- API, SFTP, Atlas UI or data vendor
PCF Calculation & Distribution.
We calculate your PCF and deliver it to APs and market makers in the Global PCF format they already use.
- Coverage:
- Physical & synthetic ETFs
- Baskets:
- Holdings, pricing, create & redeem
- Trusted:
- Largest independent PCF agent
Connect your ETF primary market through one OMS
Talk to Ultumus about ETF primary market automation, connected ETF creation and redemption, flexible submission and secure straight-through processing (STP).