Citi Enhances ETF Servicing Capabilities with FIX API Connectivity on its Global Online ETF Portal
07 Fevereiro 2024 - 11:30AM
Business Wire
The bank’s latest enhancement helps clients and
authorized participants gain efficiencies in an industry that
continues to see significant growth
Citi Securities Services announces the launch of Financial
Information eXchange (FIX) API connectivity on ACES1 – the bank’s
online, global ETF portal that fully automates the entire ETF
process.
Borne out of a successful client pilot, the new integration
offers more simplified order management and onboarding. Authorized
participants are now able to connect directly to the ACES platform
and manage ETF share creation and redemptions in a more seamless
manner.
FIX refers to a communications protocol for the international
real-time exchange of securities transaction information. The
protocol is used by the FIX community, which includes close to 300
member firms.
Paul Spyropoulos, ETF Product Manager at Citi Securities
Services, comments, “with the ETF industry’s move to T+1 looming
around the corner and the push for digitization, this enhancement
comes at an opportune time. By integrating ACES with the FIX
protocol, we are unlocking scalability and efficiency not only for
our clients, but all ETF market participants.”
The launch of FIX API connectivity comes as the ETF industry
continues to see significant growth. Since 2014, Citi’s ETF
Services business has grown exponentially in scale, covering 12
markets globally, and close to $555 billion in assets under
administration. The bank supports close to 50 global ETF issuers
and close to 600 funds2.
In a T+1 settlement environment, managing differences between
settlement and subscription cycles will be a priority. The FIX API
connectivity will help to improve market timing and reduce
operational risks, while enabling further automation within ACES
ETF processing.
Peggy Vena, Head of ETF Services for Citi Securities Services,
comments, “as the ETF sector continues to see tremendous growth,
enhanced speed and efficiency will be of critical importance and
FIX helps to enable that.”
Citi’s ETF servicing model leverages the bank’s global footprint
and expertise delivered through modern and scalable technology to
provide custody and fund services. The bank continues to regularly
expand its ETF platform with innovative solutions that exceed
market expectations and deliver excellence to clients.
With close to US$29.2 trillion of assets under custody,
administration and trust3, and an industry-leading network spanning
over 60 markets, Citi Securities Services provides cross-border
support for clients, with local market expertise, innovative
technologies, customized data solutions and a wide range of
securities services tailored to meet our clients’ growth
ambitions.
About Citi:
Citi is a preeminent banking partner for institutions with
cross-border needs, a global leader in wealth management and a
valued personal bank in its home market of the United States. Citi
does business in nearly 160 countries and jurisdictions, providing
corporations, governments, investors, institutions and individuals
with a broad range of financial products and services.
Additional information may be found at www.citigroup.com |
Twitter: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube:
www.youtube.com/citi | Facebook: www.facebook.com/citi
________________________
1 ACES refers to Advanced Citi ETF System
2 As of December 31, 2023
3 As of December 31, 2023
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version on businesswire.com: https://www.businesswire.com/news/home/20240207352292/en/
Media: Harsha Jethnani harsha.jethnani@citi.com +65
93830872
Stephanie Hyon stephanie.hyon@citi.com +1 212-816-3397
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