Cloud technology is now driving full automation of the Exchange Traded Fund (ETF) lifecycle, with one global investment servicing firm introducing a solution for development of new ETF products.

State Street's new TotalETF product offers integration to core applications, end-to-end automation and client transparency via an ETF dashboard served via the company's client website.

This dashboard provides an interface for portfolio managers to monitor the basket near real-time with the capability for geographic expansion of the State Street ETF order management system and daily performance attribution capability for the funds.

"Our expanded offering reflects the tremendous growth that ETFs have experienced over the past decade," said senior vice president of State Street's Global Services business, Frank Koudelka, referring to the evolution of ETF product development capabilities from the firm's provision of a common electronic order management platform to connect market participants in ETF trading.

The Australian ETF market recorded outflows of around $40 million in November 2011 while market capitalisation remained steady at $5.2 billion, according to the BetaShares Australian ETF Review for November last year.

The global exchange traded product industry is meanwhile valued at $1.5 trillion as at December 2011, according to the BlackRock Investment Institute.