Citi Securities Services has announced the launch of Financial Information eXchange (FIX) API connectivity on its Advanced Citi ETF System (ACES). This move enhances the efficiency and scalability of the online portal, streamlining the entire process of ETF management for market participants.

Following a successful client pilot, authorized participants can now connect directly to the ACES platform, facilitating a more seamless approach to order management and onboarding. The FIX protocol, for the real-time exchange of securities transaction information, is used by nearly 300 member firms within the FIX community.

Also, Paul Spyropoulos, ETF Product Manager at Citi Securities Services, expressed the significance of this integration, stating, “With the ETF industry’s imminent move to T+1 and the industry’s digital transformation, 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.”

Citi Launch FIX API on ACES for Enhanced ETF Efficiency

So, the launch of FIX API connectivity aligns with the continued growth of the ETF industry. Since 2014, Citi’s ETF Services business has witnessed substantial expansion, covering 12 global markets and overseeing assets totaling close to $555 billion. The bank currently supports nearly 50 global ETF issuers and approximately 600 funds.

In anticipation of a T+1 settlement environment, addressing differences between settlement and subscription cycles becomes a priority. The FIX API connectivity is going to enhance market timing, reduce operational risks, and foster increased automation within ACES ETF processing.

Peggy Vena, Head of ETF Services for Citi Securities Services, emphasized the importance of enhanced speed and efficiency in the growing ETF sector, stating, “As the ETF sector continues to see tremendous growth, enhanced speed and efficiency will be of critical importance, and FIX helps to enable that.”

Citi’s ETF servicing model leverages the bank’s global footprint and expertise, delivering modern and scalable technology for custody and fund services. The institution remains committed to expanding its ETF platform with innovative solutions, aiming to surpass market expectations and provide excellence to its clients.

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