Citi and Bloomberg have announced 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 firms writes that these solutions provide an optimised 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 firms write.
“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,” says 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,” says 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.”