Aequitas PTF Connect: The Next Evolution For Actively Managed Mutual Funds

A Shared Services Technology Platform Enabling Mutual Funds to Be Traded and Settled Like ETFs

TORONTO--()--Aequitas Connect, the innovation hub of Aequitas Innovations Inc., is excited to introduce Aequitas PTF Connect (PTF Connect): a next generation technology platform that, for the first time on an industry wide basis, will enable actively managed mutual funds to be traded and settled with the ease and efficiency of publicly-listed securities and exchange traded funds (ETFs). PTF Connect is a shared service and will be available to all mutual fund companies and IIROC dealer members in Canada.

Platform Traded FundsTM (PTFsTM) is the name for actively managed mutual funds that transact and settle like ETFs. Unlike ETFs, however, they do not need to list or trade on a stock exchange, and there is no bid-ask spread. Like ETFs, they have a unique ticker symbol and can be traded directly through a dealer’s existing equity-trading system.

“We have listened to the needs of the mutual fund industry and investment advisors across Canada. It was abundantly clear that mutual fund companies want to sell actively managed products via an efficient and accessible process. At the same time, investment advisors seek low cost actively managed funds to add to their portfolios,” stated Jos Schmitt, President and CEO, Aequitas Innovations. “Our nimble operations and technological agility, leveraging Invesco’s intellectual property, has allowed us to rapidly respond to this demand.”

PTF Connect will leverage the innovative PTF™ structure and related intellectual property developed by Invesco Canada (Invesco), and for which a patent is pending. Invesco has already proven its PTF solution on a standalone basis, with key distribution partners in place and volumes quickly picking up.

“We believe our PTF solution was a breakthrough for investing and has solved a number of challenges unique to fee-based investing,” added Peter Intraligi, President and Chief Operating Officer, Invesco Canada. “Based on discussions we have had with other companies, we investigated multiple avenues to make PTFs available on an industry-wide basis for the benefit of all clients. The values Aequitas stands for, combined with its ability to act quickly in building out a shared-services platform to make PTFs available to the entire industry, led us to rapidly conclude that we preferred to partner with them.”

PTF Connect will initially be focused on IIROC investment advisors and will allow them to buy and sell PTFs through the same equities trading system currently used to trade individual securities and ETFs. Advisors will simply enter the unique ticker symbol and the number of units to be executed via existing infrastructure. Bulk trading capability will be available where purchase and redemption orders may be made simultaneously across multiple client accounts. With guaranteed orders and end-of-day pricing set against net asset value, PTF Connect will enable hassle-free trading for advisors.

The streamlined processes underpinning PTF Connect will allow mutual fund companies to reduce costs in comparison with other mutual fund series. The PTF Connect fee model will be based on set up fees per fund and the assets under administration. Aequitas will assist mutual fund companies by providing step-by-step on-boarding support and documentation for all aspects of the set up. This will include support for processes with CDS, CDS-eligible transfer agents, settlement agents, pricing vendors and PTF Connect interfaces.

Aequitas is actively building out its solution and PTF Connect is on track to begin operating early in the first quarter of 2016.

For more information, please visit:

About Aequitas Innovations Inc.

Aequitas Innovations Inc. (Aequitas) is the parent of Aequitas NEO Exchange Inc. (NEO Exchange) and Aequitas Technology Services Inc. (Aequitas Connect). Launched in March 2015, the NEO Exchange is Canada’s newest stock exchange that uses a bold new blueprint that puts investors, issuers raising capital and their dealers first. It currently offers an innovative trading platform and a value added listing platform for companies and investment products. Aequitas Connect is the innovation hub that is building PTF Connect and is pioneering a new approach to market data. Aequitas was founded by a diverse group of prominent investors representative of all Canadian capital market stakeholders. For more information, please visit:

Aequitas Connect™ and all associated trademarks are trademarks of Aequitas Innovations Inc., used under licence.

Platform Traded Funds™, PTFTM and all associated trademarks are trademarks of Invesco Holding Company Limited, used under licence by Invesco Canada Ltd.


Joanne Kearney, 416-804-5949


Joanne Kearney, 416-804-5949