CIBC Mellon to provide asset servicing for Questrade's new family of exchange-traded funds

Questrade brings Canadians a new family of mid-large cap CAD-hedged US index ETFs

TORONTO, March 23, 2015 /CNW/ - CIBC Mellon today announced that Questrade Financial Group has selected CIBC Mellon as asset servicing provider for its newly-launched family of exchange-traded funds (ETFs).  CIBC Mellon will deliver custody, fund administration, ETF servicing and information-delivery services as Questrade enters Canada's ETF market with a family of Canadian-dollar hedged mid-to-large cap ETFs tracking US indexes. 

"Questrade is dedicated to creating financial products that help Canadians build and keep their hard-earned money," said Edward Kholodenko, President and Chief Executive Officer of Questrade Financial Group.  "CIBC Mellon has the right technology, expertise and experience to support our innovative new family of ETFs, and we are looking forward to working with them as we bring this exciting new offering to Canadian investors."

"Fund sponsors continue to tap CIBC Mellon as their Canadian ETF servicing provider of choice," said Shane Kuros, vice president, business development, CIBC Mellon.  "Thanks to BNY Mellon's significant, ongoing technology investments and our experienced local team, we are able to meet clients' Canadian ETF servicing requirements efficiently, accurately and with the speed that the market demands."

Questrade's new ETF offerings include:

  • QRD – Questrade Russell 1000 Equal Weight US Consumer Discretionary Index ETF Hedged to CAD
  • QRH – Questrade Russell 1000 Equal Weight US Health Care Index ETF Hedged to CAD
  • QRI – Questrade Russell 1000 Equal Weight US Industrials Index ETF Hedged to CAD
  • QRT – Questrade Russell 1000 Equal Weight US Technology Index ETF Hedged to CAD
  • QMG – Questrade Russell US Midcap Growth Index ETF Hedged to CAD
  • QMV – Questrade Russell US Midcap Value Index ETF Hedged to CAD

Leveraging the sophisticated asset servicing capabilities of BNY Mellon, CIBC Mellon's ETF solutions include indicative net-asset-value (NAV) production, automated basket creation and redemption features, and a designated broker interface offering flexible, end-to-end automation of the order process.  This robust solution delivers support and flexibility, meeting the operational needs of a broad range of ETF industry participants.   

About Questrade Financial Group Inc.:
Questrade Financial Group Inc. ("QFG") and its affiliated companies provide financial products and services to Canadians including securities, foreign currency, investment and wealth management. In 2014, Questrade's CEO was named as EY Entrepreneur of the Year (Ontario) in the services category, and since 2011, Questrade has been ranked one of Canada's Best Managed Companies. Questrade Financial Group is headquartered in Toronto.

About Questrade Wealth Management:
Questrade Wealth Management Inc. ("QWM") manages and administers Questrade ETFs and provides professional investment management services through Portfolio IQ. QWM is an investment and portfolio manager. QWM is a wholly owned subsidiary of QFG. Commissions, management fees and expenses all may be associated with exchange traded funds. Please read the prospectus before investing. Exchange traded funds are not guaranteed, their values change frequently and past performance may not be repeated.

About CIBC Mellon
CIBC Mellon is a Canadian company exclusively focused on the investment servicing needs of Canadian institutional investors and international institutional investors into Canada. Founded in 1996, CIBC Mellon is 50-50 jointly owned by The Bank of New York Mellon (BNY Mellon) and Canadian Imperial Bank of Commerce (CIBC). CIBC Mellon's investment servicing solutions for institutions and corporations are provided in close collaboration with our parent companies, and include custody, multicurrency accounting, fund administration, recordkeeping, pension services, securities lending services, foreign exchange settlement and treasury services. As at December 31, 2014, CIBC Mellon had more than CAD$1.4 trillion of assets under administration on behalf of pension funds, investment funds, corporations, governments, insurance companies, foreign insurance trusts, foundations and global financial institutions whose clients invest in Canada. CIBC Mellon is part of the BNY Mellon network, which as at September 30, 2014 had USD$28.3 trillion in assets under custody and/or administration and USD$1.6 trillion in assets under management. CIBC Mellon is the corporate brand of CIBC Mellon Trust Company and CIBC Mellon Global Securities Services Company and may be used as a generic term to reference either company or both companies collectively.

For more information – including CIBC Mellon's latest knowledge leadership on issues relevant to institutional investors active in Canada – visit http://www.cibcmellon.comor follow us on Twitter @CIBCMellon.

SOURCE CIBC Mellon

For further information: Brent Merriman, Corporate communications, CIBC Mellon, Tel: 416-643-5065, brent_merriman@cibcmellon.com; Lynn Suderman, Director, Communications, Questrade, Tel: 416.705.5476, lsuderman@questrade.com

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