Citi and Bloomberg Streamline Fixed Income ETF Baskets01.19.2022
Citi and Bloomberg announced 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.
With Dmitry Kay, Co-head of EM FX Trading, Europe, UBS
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