BNY Mellon named servicer of GreenHaven Commodity ETF

Source: BNY Mellon Asset Servicing

BNY Mellon Asset Servicing, the global leader in asset servicing, has been appointed servicer of the GreenHaven Continuous Commodity Index Fund (AMEX symbol: GCC), an exchange trade fund (ETF).

BNY Mellon will provide creation and redemption services, ETF accounting and administration, and transfer agency services.

The fund seeks to use a combination of U.S. Treasury securities and exchange traded futures to combine the return of the 17 commodities in the Reuters Continuous Commodity Index Total Return (CCI-TR) with an additional U.S. Treasury bill return. The 17 equally weighted commodities tracked by the GCC are wheat, corn, soybeans, live cattle, lean hogs, gold, silver, platinum, copper, cotton, coffee, cocoa, orange juice, sugar, crude oil, heating oil and natural gas.

"BNY Mellon has demonstrated its ability to provide the full breadth of services required to support commodity-based ETFs along with a willingness to customize its systems to meet our special needs," said Ashmead Pringle, president of GreenHaven Commodity Services, LLC.

"We see a growing demand by investors for commodities ETFs and continue to develop the tools that will help investment managers operate these funds as efficiently as possible," said Joe Keenan, managing director of BNY Mellon Asset Servicing. "We are devoting an increasing level of resources to support both traditional ETFs that track equity indexes as well as the growing number of ETFs that track assets that are not correlated with the stock markets."

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