Citi Enhances ETF Servicing Capabilities with FIX API Connectivity on its Global Online ETF Portal
The bank’s latest enhancement helps clients and authorized participants gain efficiencies in an industry that continues to see significant growth
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.
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
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.
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
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
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1 ACES refers to Advanced Citi ETF System
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Media:
Harsha Jethnani
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Source: Citi