Waystone’s Luxembourg undertakings for collective investment in transferable securities (Ucits) platform has been authorised by the Financial Sector Supervisory Commission (CSSF) for the integration of an exchange-traded fund operating model, the firm announced on Monday 21 July 2025. The approval permits the launch of exchange-traded funds alongside traditional Ucits products, effectively transforming the platform into a dual-purpose structure intended to support faster market entry for international asset managers.
The platform, formally known as Waystone Ucits Platform (Lux) Sicav, is now “ETF-ready,” a designation that aligns with a growing trend among active managers seeking efficient, scalable access to the European ETF market, according to Waystone. The firm stated that this development followed a sharp rise in demand for ETF platform solutions, particularly from institutional investors across the US, Europe, the Middle East, Asia and Australasia.
The Luxembourg move builds on Waystone’s earlier ETF white-label initiative in Ireland, which went live in 2024. That platform formed the initial stage of Waystone’s strategy to broaden its cross-border distribution infrastructure and capture a share of the expanding ETF segment, especially in active management.
Waystone said the decision to expand the ETF offering to Luxembourg was driven by the grand duchy’s status as a leading cross-border fund domicile and its robust operational and regulatory environment. The platform upgrade in Luxembourg is expected to facilitate plug-and-play ETF launches for asset managers looking to outsource fund operations while focusing on product development and distribution.
According to Paul Heffernan, chief executive of Waystone ETFs, institutional sentiment around exchange-traded funds has “fundamentally shifted,” with clients now seeking rapid implementation strategies rather than debating whether to enter the market. Heffernan noted that the regulatory and operational readiness of Luxembourg, combined with client demand for simplified infrastructure, had accelerated the decision to expand the offering.
Denis Harty, country head for continental Europe, added that Luxembourg’s evolving ETF ecosystem demonstrated its capacity to adapt to market innovation. He cited the region’s regulatory framework, infrastructure and growing appetite for ETFs as factors contributing to its emergence as a competitive European hub for ETF distribution.
Waystone did not disclose a launch timeline for its first ETF under the new structure, nor the number of asset managers expected to onboard in the coming months. However, the firm characterised the CSSF approval as a “milestone” in scaling its platform to meet international demand.
