Citi Securities Services and Bloomberg BSKT Integration Streamlines Fixed Income ETF Basket Negotiation
January 18 2022 - 09:00AM
Business Wire
Citi and Bloomberg announced today an integration between
Bloomberg’s BSKT service with Citi’s proprietary ACES (Citi
Advanced ETF System) platform to better support Citi’s ETF clients
who use BSKT to negotiate fixed income baskets.
BSKT is a primary market solution for negotiation, ticketing and
routing ETF creation and redemption transactions. ACES features a
suite of efficient workflow tools that fully automates the entire
ETF process reducing time to market and cost to issuers. The two
solutions provide an optimized basket negotiation experience for
mutual ETF clients who manage fixed income portfolios with improved
integration and workflow. The collaboration between Citi and
Bloomberg allows Citi to scale its fixed income ETF servicing
business and further enhance its integrated ETF offering.
“The integration between Citi and Bloomberg BSKT represents a
significant advancement in strengthening Citi’s commitment to the
ETF space and our fixed income capabilities,” said Peggy Vena, Head
of ETF Services for Citi Securities Services. “Through this
innovation, our ETF clients who use BSKT for fixed income basket
negotiations will benefit from a more streamlined, efficient
process.”
“Collaborating with Citi to support the ETF primary markets is
an important part of our vision to improve ETF creation and
redemption through the Bloomberg Terminal,” said Benjamin Morris,
ETF Product Manager at Bloomberg. “We are focused on enhancing BSKT
to support the continued growth and evolution of the ETF markets.
Connectivity with Citi’s ETF Services brings us closer to our goal
of delivering flexible architecture which provides built-in
integrations with leading custodians.”
Citi, a leading provider of ETF services globally, delivers a
fully automated, end-to-end solution to support the ETF
marketplace. Citi’s ETF servicing model is based on modern,
extensible and scalable technology that leverages Citi’s core
infrastructure, global footprint and expertise to provide Global
Custody and Fund Administration Services. By taking an integrated
approach to enabling growth, Citi ETF Services is regularly
expanding its ETF platform with innovative solutions to exceed the
expectations of the market. With approximately $29.9 trillion1 of
assets under custody and administration and the industry-leading
proprietary network spanning over 60 markets, Citi Securities
Services provides clients with extensive on-the ground local market
expertise, innovative post-trade technologies, customized data
solutions and a wide range of custody and fund services that can be
tailored to meet clients’ needs.
BSKT is a part of Bloomberg’s comprehensive ETF suite of
products that support the entire ETF lifecycle, and is used by
investors, issuers, and liquidity providers. Powerful portfolio
analytics allow clients to analyze positions, historical
performance and risk. Real-time data feeds and evaluated pricing on
Bloomberg help track intraday fixed income ETF pricing across the
fixed income liquidity spectrum. Bloomberg subscribers can access
more information via BSKT<GO> on the Bloomberg Terminal.
About Citi
Citi has approximately 200 million customer accounts and does
business in more than 160 countries and jurisdictions. Citi
provides consumers, corporations, governments and institutions with
a broad range of financial products and services, including
consumer banking and credit, corporate and investment banking,
securities brokerage, transaction services, and wealth
management.
Additional information may be found at http://www.citigroup.com
| Twitter: @Citi | YouTube: http://www.youtube.com/citi | Blog:
http://blog.citigroup.com | Facebook: http://www.facebook.com/citi
| LinkedIn: www.linkedin.com/company/citi.
About Bloomberg
Bloomberg, the global business and financial information and
news leader, gives influential decision makers a critical edge by
connecting them to a dynamic network of information, people and
ideas. The company’s strength – delivering data, news and analytics
through innovative technology, quickly and accurately – is at the
core of the Bloomberg Terminal. Bloomberg’s enterprise solutions
build on the company’s core strength: leveraging technology to
allow customers to access, integrate, distribute and manage data
and information across organizations more efficiently and
effectively. For more information, visit www.bloomberg.com or
request a demo.
___________________
1 As of Q3 2021.AUC/A figure separately represents gross assets
for which Citi provides Global Custody and sub-custodian services
via its Direct Custody and Clearing business and includes Issuer
Services. Citi previously reported AUC/A numbers on a net basis,
therefore discounting assets serviced by both businesses.
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version on businesswire.com: https://www.businesswire.com/news/home/20220118005421/en/
Media Contacts Citi: Nina Das: 1 (212) 816-9267 /
nina.das@citi.com Bloomberg: 1 (212) 617-6361/
gandriks@bloomberg.net
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