U.S. Bank announced today that it will leverage Intercontinental Exchange’s (NYSE: ICE) ICE ETF Hub to offer its customer base seamless electronic access to the ETF primary market. ICE ETF Hub, which recently surpassed $1 trillion in notional create/redeem orders, is an industry-wide, open architecture, technology solution, offering a standardized and simplified process for the creation and redemption of ETF shares.

With this relationship, U.S. Bank clients will have access to the ICE ETF Hub platform, which currently supports U.S.-listed equity, fixed-income, derivative, commodity and multi-asset ETFs. U.S. Bank services more than 70 ETF clients, with more than 330 ETFs. Clients will also have access to ICE’s automated functionality, which allows ETF primary market participants to negotiate and assemble custom basket proposals.

“Intercontinental Exchange’s ICE ETF Hub brings important new innovations and protocols to the share creation and redemption process for ETFs,” said Joe Neuberger, president of U.S. Bank Global Fund Services. “We’re excited to offer these new efficiencies to our clients and offer a seamlessly connected end-to-end solution from order processing through clearing.”

“We’re pleased to work with U.S. Bank as they continue to build on their leadership position in providing custodial services to the ETF issuer community,” said Peter Borstelmann, president of ICE Bonds. “The standardization we’ve brought to the ETF primary market and the recent enhancements around custom basket negation technology and access to ICE’s secondary bond market will offer compelling new efficiencies for U.S. Bank and its customers.”

About U.S. Bank

U.S. Bancorp, with nearly 70,000 employees and $567 billion in assets as of Sept. 30, 2021, is the parent company of U.S. Bank National Association. The Minneapolis-based company serves millions of customers locally, nationally and globally through a diversified mix of businesses: Consumer and Business Banking; Payment Services; Corporate & Commercial Banking; and Wealth Management and Investment Services. The company has been recognized for its approach to digital innovation, social responsibility, and customer service, including being named one of the 2021 World’s Most Ethical Companies and Fortune’s most admired superregional bank. Learn more at usbank.com/about.

About Intercontinental Exchange

Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks to connect people to opportunity. We provide financial technology and data services across major asset classes that offer our customers access to mission-critical workflow tools that increase transparency and operational efficiencies. We operate exchanges, including the New York Stock Exchange, and clearing houses that help people invest, raise capital and manage risk across multiple asset classes. Our comprehensive fixed income data services and execution capabilities provide information, analytics and platforms that help our customers capitalize on opportunities and operate more efficiently. At ICE Mortgage Technology, we are transforming and digitizing the U.S. residential mortgage process, from consumer engagement through loan registration. Together, we transform, streamline and automate industries to connect our customers to opportunity.

Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 – Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on February 4, 2021.

About ICE Bonds

Securities products and services are offered through ICE Bonds Securities Corporation or ICE Bonds, member FINRA, MSRB, NFA and SIPC. The information found herein, has been prepared solely for informational purposes and should not be considered investment advice, is neither an offer to sell nor a solicitation of an offer to buy any financial product(s), is intended for institutional customers only and is not intended for retail customer use.

* An Authorized Participant is an institutional firm authorized by an ETF issuer to facilitate creations or redemptions of ETF shares.

SOURCE: Intercontinental Exchange

U.S. Bank Global Fund Services is a wholly owned subsidiary of U.S. Bank, N. A. Custody and lending services are offered by U.S. Bank, N.A.

U.S. Bank Global Fund Services (Ireland) Limited is registered in Ireland with the Companies Registration Office Reg. No. 413707 and Registered Office: 24-26 City Quay, Dublin 2, Ireland. U.S. Bank Global Fund Services (Ireland) Limited is authorised and regulated by the Central Bank of Ireland under the Investment Intermediaries Act, 1995

U.S. Bank Global Fund Services (Guernsey) Limited is licensed under the Protection of Investors Law (Bailiwick of Guernsey), 1987, as amended by the Guernsey Financial Services Commission to conduct controlled investment business in the Bailiwick of Guernsey.

Investment products and services are:

NOT A DEPOSIT • NOT FDIC INSURED • MAY LOSE VALUE • NOT BANK GUARANTEED • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

U.S. Bank does not guarantee products, services or performance of its affiliates and third-party providers.

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