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Citi launches new dynamic allocation and fund order processing service


Citi has launched a new service for adviser clients that will automate the allocation of cash across a range of funds and manage all aspects of order processing between advisor clients and fund providers.

With Citi’s Dynamic Allocation and Fund Order Processing service, a client can send an order via industry standard or proprietary messaging to Citi who would supplement the order with additional information, such as account and routing information, before sending it to the fund’s order processing provider. Alternatively, a client can stipulate a cash allocation model, and Citi will dynamically generate and route orders to the funds specified.

“Having a single service for the allocation and placement of fund orders will be a distinctive benefit for clients of this new service,” says Pervaiz Panjwani, EMEA Head of Custody and Fund Services at Citi. “It means avoiding the necessity for a client to establish connections across a broad universe of transfer agents and order handling providers. It can also mean a reduction in costly errors when allocating orders across multiple funds.”

Citi’s Dynamic Allocation and Fund Order Processing will handle the requirements for settlement and trade communication of all custodian banks, administrators and relevant parties. The service will be available in all major markets where permitted by local regulations and will cover all available fund types, both regulated and private funds.

“We are pleased to introduce this latest enhancement to our suite of middle and back office services,” says Sanjiv Sawhney, Global Head of Custody and Fund Services at Citi. “Dynamic Allocation and Fund Order Processing helps clients spend more time on activities that drive growth by connecting them to the various market participants and to a broad range of investments. The service was designed in line with Citi’s forward-thinking, provider-agnostic approach to many of our middle and back office services.”

Citi announced the introduction of other middle and back office solutions such as multi-slot investment book of record (IBOR) and Citi Velocity Clarity, its data and analytics platform. Both solutions are compatible with the new Dynamic Allocation and Fund Order Processing service.

With over USD24.9 trillion of assets under custody and administration and the industry-leading proprietary network spanning over 60 markets, Citi Securities Services provides clients with in-depth local market expertise, advanced processing technologies and a wide range of custody and fund services that can be tailored to meet clients’ needs.

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