Citi Integrates ETF Portal with FIX API Connectivity

Citi Securities Services announced the launch of Financial Information eXchange (FIX) API connectivity on ACES – the bank’s online, global ETF portal that fully automates the entire ETF process. According to a story in MarketsMedia news, the new integration offers more simplified order management and onboarding. Authorized participants are now able to connect directly to the ACES platform and manage ETF share creation and redemptions in a more seamless manner. Paul Spyropoulos, ETF Product Manager at Citi Securities Services, comments, “with the ETF industry’s move to T+1 looming around the corner and the push for digitization, this enhancement comes at an opportune time. By integrating ACES with the FIX protocol, we are unlocking scalability and efficiency not only for our clients, but all ETF market participants.” The launch of FIX API connectivity comes as the ETF industry continues to see significant growth. Since 2014, Citi’s ETF Services business has grown exponentially in scale, covering 12 markets globally, and close to $555 billion in assets under administration. The bank supports close to 50 global ETF issuers and close to 600 funds. In a T+1 settlement environment, managing differences between settlement and subscription cycles will be a priority. The FIX API connectivity will help to improve market timing and reduce operational risks, while enabling further automation within ACES ETF processing.