Citi Selected as End-To-End Service Provider for Fubon’s Latest Hong Kong ETF

Hong Kong — Citi Securities Services today announced that it has been selected by Fubon Fund Management (Hong Kong) Company Limited to provide the full range of custody and fund services for Fubon’s latest thematic ETF (Fubon ICE FactSet Asia Battery and Energy Storage Technology Index ETF) that was recently listed in Hong Kong (3405 HK).

Citi will provide custody, fund accounting and administration, ETF processing, registrar services, and will act as the ETF OFC custodian. Citi is also the participating dealer for Fubon’s ETF. This mandate is proof of Citi’s ability to service an ETF’s entire lifecycle end-to-end, from supporting primary market liquidity to fund servicing. Citi will also make available its proprietary Advanced Citi ETF System (ACES) that enables Participating Dealers to place creation and redemption orders online for Citi-administered ETFs.

“We remain committed to the development of the Hong Kong ETF market and we continue to play an active role in supporting environmental sustainability, and our latest ETF is example of both these commitments,” said Alan Ng, Managing Director of Fubon Fund Management (HK) Limited. “Citi was a natural choice for us given its comprehensive suite of ETF services.”

Fubon’s latest ETF listing is part of its ongoing commitment to help achieve carbon net-zero targets by 2050 with a focus on electric vehicle batteries and energy storage. The robust development of battery technology and the improvement in energy storage are seen as key enablers in reducing carbon emissions.

“We are honored that Fubon has once again chosen to work with Citi on their latest Hong Kong ETF,” commented Julie Kerr, Citi’s APAC Co-Head of Sales for Securities Services. “Working with our colleagues in Citi Global Markets, we have been able to provide Fubon with a complete front to back service that caters to their every need.”

“By providing ACES technology, we have automated the primary market order placement and processing capability which is integrated downstream with our ETF registrar services” said Conor Hession, APAC Head of Fund Services, Citi Securities Services. “As a result, Citi is increasingly the preferred partner of choice for ETF issuers.”

Citi was the first to provide OFC custodian, fund administration and ETF services to ETFs since the OFC regime was launched by Hong Kong’s Securities and Futures Commission in July 2018. Citi works with over 40 ETF issuers covering approximately 500 ETFs in the APAC region alone.

With approximately USD$27.1 trillion¹ of assets under custody, administration and trust worldwide, and a leading proprietary network spanning more than 60 markets, Citi Securities Services provides cross-border support for clients with extensive on-the ground local market expertise, innovative post-trade technologies, customized data solutions, and a wide range of securities services solutions that can be tailored to meet clients’ needs.

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.

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Media Contacts:

Arundathi Abyshekar: +852 2868 7684, arundathi.abyshekar@citi.com