BANK OF NEW YORK MELLON CORPORATION (THE) NEW YORK, April 3, 2020/PRNewswire/ -- BNY Mellon has expanded its exchange-traded product relationship with United States Commodity Funds (USCF) and completed the asset conversion onto BNY Mellon's ETF Servicing platform. BNY Mellon has been appointed by USCF to provide ETF services- including serving as its custodian, fund accountant and administrator and transfer agent. The conversion was completed on April 1st.
USCF is an innovative asset management firm that has built their reputation by bringing previously difficult to access investment products to every investor. USCF specializes in commodity and alternative exchange-traded products (ETPs) including the first oil ETP, the United States Oil Fund, LP (NYSE Arca: USO) in 2006.
'BNY Mellon is focused on delivering digital exchange-traded product solutions aimed at driving efficiencies across the ecosystem and working closely with our partners to develop long-term solutions for the industry,' said Jeff McCarthy, Global ETF Product Head, BNY Mellon Asset Servicing. 'We are honored to have USCF appoint BNY Mellon as a trusted partner to help execute their strategy.'
John Love, President of USCF, said, 'We were impressed by BNY Mellon's technology offerings and cost-effective services. We are excited to leverage the BNY Mellon enterprise as we enter our next phase of innovation and growth.'
BNY Mellon supports global ETF issuers as they design, issue, distribute, and manage funds. In addition to its core custody, fund accounting and administration, and transfer agency offerings, it offers ETF and asset manager trading, collateral, funding, liquidity management, ETF access and distribution strategies.
About BNY Mellon:
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries. As of Dec. 31, 2019, BNY Mellon had $37.1 trillionin assets under custody and/or administration, and $1.9 trillionin assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
About USCF:
USCF operates on the leading edge of product innovation as an asset management firm offering exchange- traded products (ETPs) and exchange-traded funds (ETFs). The firm broke new ground with the launch of the first oil ETP, the United States Oil Fund, LP (USO), in 2006. Over the next decade, USCF designed and issued ten more specialty products across commodity and private equity asset classes. For more information about USCF visit our website www.uscfinvestments.com.
Exchange Traded Product Disclosure: We advise you to consider a Fund's objectives, risks, charges and expenses carefully before investing. Download a copy of a Fund's Prospectus by clicking on the following: USO which contains this and other information, or contact the Fund's distributor at: ALPS Distributors, Inc., 1290 Broadway, Suite 1100, Denver, Colorado80203 or call 800-920-0259. Please read the Fund's Prospectus carefully before investing. Past performance does not guarantee future results.
Commodity trading is highly speculative and involves a high degree of risk. Commodities and futures generally are volatile and are not suitable for all investors. An investor may lose all or substantially all of an investment. Investing in commodity interests subject each Fund to the risks of its related industry. These risks could result in large fluctuations in the price of a particular Fund's respective shares. Funds that focus on a single sector generally experience greater volatility. For further discussion of these and additional risks associated with an investment in the Funds please read the respective Fund Prospectus before investing.
Contact:
Paul Patella
BNY Mellon
paul.patella@bnymellon.com
+1 914 645 8662
SOURCE BNY Mellon
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The Bank of New York Mellon Corporation published this content on 03 April 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 April 2020 12:18:05 UTC
