Newspaper article THE JOURNAL RECORD

Oklahoma City CEO J. Garrett Stevens Trademarks ETF Process

Newspaper article THE JOURNAL RECORD

Oklahoma City CEO J. Garrett Stevens Trademarks ETF Process

Article excerpt

If anyone in the world wants to start an exchange-traded fund in a reasonable amount of time, they have to come to J. Garrett Stevens' hometown.

"We're working with people in Asia, South America, Europe, Canada," he said. "If you want to launch ETFs on the New York Stock Exchange, you have to come through Oklahoma City first. I'm very happy about that."

Stevens founded Exchange Traded Concepts Trust to serve as the middleman or transition point in the complex process of launching ETFs in the financial markets. The CEO has even gone so far as to put a trademark on the Exchange Traded Concepts turnkey solution as ETF-In-A-Box.

The boxed part of what Stevens offers involves filing for exemptive relief from the Securities and Exchange Commission, a standard administrative step that addresses mutual fund restrictions in the Investment Company Act of 1940. The processing of an application for relief can take up to three years and can cost about $1 million.

Exchange Traded Concepts did that in 2009. But then Stevens took another step, offering the use of the company as a launching pad for other ETFs so that they don't have to repeat the same time- consuming, expensive steps. Moving through his company, the process is cut to about 75 days; Exchange Traded Concepts is paid a fixed amount of basis points and an annual minimum fee, much less than a million dollars.

In December, for example, Exchange Traded Concepts filed a preliminary prospectus with the SEC to launch what Stevens called a high-income master limited partnership ETF, the first exchange- traded fund to track the Solactive High Income MLP Index. If the federal government grants clearance, the new ETF will be advised by Exchange Traded Concepts and will have two sub-advisers - Yorkville ETF Advisors LLC as investment sub-adviser and Investment Management Solutions LLC as trading sub-adviser. …

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