Citi Securities Services and Bloomberg BSKT Integration Streamlines Fixed Income ETF Basket Negotiation

January 18, 2022

New York – 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 on the Bloomberg Terminal.

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.

Citi
Citi, the leading global bank, 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.

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.

Media Contacts
Citi: Nina Das: 1 (212) 816-9267 / nina.das@citi.com
Bloomberg: 1 (212) 617-6361/ gandriks@bloomberg.net

Citi Securities Services and Bloomberg BSKT Integration Streamlines Fixed Income ETF Basket Negotiation

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