Bloomberg’s BSKT service and Citi’s proprietary exchange-traded fund (ETF) system (ACES) have been integrated to better support Citi’s ETF clients who use BSKT to negotiate fixed income baskets.
BSKT is a market solution for negotiation, ticketing and routing ETF creation and
redemption transactions.
ACES features a suite of workflow tools that fully automates the entire ETF process reducing time to market and cost to issuers. The two solutions are designed for mutual ETF clients who manage fixed income portfolios.
The collaboration between Citi and Bloomberg allows Citi to scale its fixed income ETF servicing business and further enhance its integrated ETF offering, the global bank says.
Peggy Vena, head of ETF services for Citi Securities Services, says: “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. Through this innovation, our ETF clients who use BSKT for fixed income basket negotiations will benefit from a more streamlined, efficient process.”
Benjamin Morris, ETF product manager at Bloomberg, comments: “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.”
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