Citi has launched a host-to-host connection with Taiwan Depository and Clearing Corporation which allows Citi to offer its clients near-real-time trade status and settlement confirmations for certain equity settlements, including securities borrowing and lending and ETF activities. Citi claims to be the first custodian bank in Taiwan to use host-to-host connectivity for intraday feeds and…
Category: Citi
Citi wins USD600m servicing mandate for Russia’s first ETF issuer
Citi has been awarded the mandate to provide ETF services for the full fund range of FinEx ETF, Russia’s first ETF issuer. Under the agreement, Citi will service FinEx’s 13 ETFs, coveringUSD600m in assets. Citi will provide a range of services across custody, fund administration and basket services, as well as distribution support through Citi…
Citi to service Dimensional’s new ETF range
Citi has made a major breakthrough in the U.S. ETF sector with a mandate from Dimensional Fund Advisors to act as fund administrator, custodian, and transfer agent for three new actively managed ETFs. Dimensional, a U.S.-based manager with >USD500bn AuM, announced its plans to launch these funds in June 2020. Citi has a longstanding relationship…
Citi extends partnership with Netwealth to include E2C
Citi has agreed to extend its partnership with Netwealth, a fund platform based in Australia, as its provider of global custody, global and domestic equities execution and fund administration. Netwealth will be the first Australian wealth platform to have access to Citi’s Execution to Custody (E2C) service, which provides global execution, settlement and custody services…
Citi adds client reporting functionality to Clarity
Citi has launched a new client reporting solution as the latest enhancement to its middle office services. The new reporting service is built on the Vermilion Reporting Suite, a global client reporting platform, coupled with Citi’s own Clarity data and analytics platform. The new reporting service offers asset manager clients a low-touch, automated solution for…
Citi rolls out enhancements to Clarity data platform
Citi has enhanced its securities services data services platform, Citi Velocity Clarity. The enhancements to Clarity include a new integrated reporting tool that enables clients to overlay their own data, including graphical elements, with Citi held data to publish tailored reports. Data from middle-office trade processing, ETFs, and custody billing has been integrated into Citi’s…
Citi wins domestic fund custody licence in China
Citi has received a domestic fund custody licence from the China Securities Regulatory Commission (CSRC). The announcement makes Citi the first U.S. bank, and the first bank among the top five global custodians, to be granted such a licence, which will enable Citi to provide custody-related services to both mutual funds and private funds domiciled…
Citi adds Finland to direct custody & clearing network
Citi is to offer direct custody & clearing (DCC) services in Finland. This new offering expands Citi’s proprietary DCC network to cover the whole Nordic region, making Citi the only international bank to offer a pan-Nordic service. Citi will become a member of Euroclear Finland, the central securities depository, and will access the system through…
Citi takes USD9bn of John Hancock fund assets from State Street
A major breakthrough for Citi in the ’40 Act space, where John Hancock Investment Management has transferred the custody of USD9bn in fund assets to Citi from State Street. Citi has assumed custody for three Hancock funds: the Fundamental Large Cap Core, the Balanced and the Disciplined Value International, Citi has an existing mutual fund…
BNY Mellon adds senior talent across asset servicing business
BNY Mellon has made some significant hires across its asset servicing business. Mark McKeon joins as global head of front-to-back solutions, based in Dublin. He is charged with expanding asset servicing’s front-to-back solutions platform globally, connecting the front, middle and back office to deliver a seamless platform for clients. His remit will include OMS partnerships,…