DALLAS--(BUSINESS WIRE)--Esposito Securities, LLC (“Esposito”), a leading provider of ETF seed capital, best in class trading execution and other key services to both the asset management industry and institutional investors, is celebrating the recent successful launch of the NYSE Pickens Oil Response ETF (NYSE Arca: BOON), for which Esposito provided seed capital.
Based on the investment philosophy of legendary investor T. Boone Pickens, BOON launched on February 28, 2018, and traded 215,000 shares on its first day. Since going live, the fund has continued to see strong volume, averaging more than 50,000 shares traded per day.
“We’re very pleased to have played a role in the successful launch of the BOON ETF, and we congratulate the team at BP Capital on the strong start,” said Mark Esposito, CEO of Esposito Securities, LLC. “We look forward to working with them again on their next launch.”
The team at Esposito has played a major role in helping its ETF sponsor clients prosper during the recent, unprecedented growth in the ETF industry. Throughout its 10-year history in ETFs, Esposito has assisted funds in seeding, the creation and redemption of ETF shares, and executing trades in the underlying securities. Esposito offers custom and standard basket trading for ETFs as well as seed capital, rebalance work-up and assistance, and superior execution with the option of Post Trade and Best Execution analytical reporting for all funds. Esposito also trades and is sub-custodian for options through its clearing firms.
“From its inception, Esposito Securities has offered value-added products and services that drive ETF growth. As ETFs have evolved into a larger and separately identifiable asset class, we have proactively offered services that add value via technology, operations and trading. Fund managers and traders actively engage Esposito for new solutions daily,” added Esposito. “We’re always thinking about our lineup of products and services, and looking at ways we can continue to deliver value and solutions to our clients and the investor community.”
About Esposito Securities, LLC
Esposito Securities, LLC is a FINRA registered broker dealer providing global equity trading services. A growing list of clients utilize our services including registered investment advisers, mutual funds, hedge funds, ETFs, closed-end funds and unit investment trusts (UITs). Esposito is also among the leaders in providing seed capital and other key resources fueling the growth of the ETF industry.
Esposito Securities is a member of FINRA/SIPC.