Citi has expanded its exchange-traded funds (ETFs) custody and fund services to include Europe, the Middle East and Africa (EMEA) domiciled ETFs, following the expansion of its ETF services platform in the US, Latin America and Asia.
The expansion is supported by the Citi’s Advanced ETF System, a new platform that enables Citi to fully automate the entire ETF lifecycle, from basket creation to order processing and settlement, reducing operational risk and processing time.
Pervaiz Panjwani, head of custody and fund services for EMEA, said: “We are committed to establishing the premier presence within the ETF servicing community.”
He added: “As ETF issuers and investors continuously require greater levels of efficiency, we are pleased to launch this comprehensive solution for European ETFs to help our clients navigate the challenges associated with a fragmented market environment via a truly global and fully automated platform.”
Gareth Myburgh, EMEA ETF product manager at Citi, commented: “Citi’s business model enables us to support all aspects of the ETF lifecycle agnostically, from index creation, dedicated research and content, sales, trading, market-making, derivatives and securities lending, all the way through to traditional ETF fund administration, custody and common depositary.”
He added: “The launch of Citi’s ACES platform highlights our commitment to continuously strengthen our offering and support our clients’ ETF needs holistically across products and geographies.”
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