Citi Securities Services Expands Capabilities to Support Dual-Access Exchange Traded Funds

SYDNEY, AUSTRALIA – Citi Securities Services has expanded its market-leading, exchange-traded fund (ETF) service proposition with the addition of capabilities to support dual-access, fully transparent ETFs.                                                       

Dual access ETFs give investors the choice to access investment funds through either an exchange or via traditional unlisted distribution channels. Fully transparent ETFs offer the investor complete insight into the portfolio composition.

Citi is now one of a small number of Australian providers that can perform end-to-end servicing to support the full range of ETFs. This includes Portfolio Composition File (PCF) calculations, service and order processing using Citi’s proprietary ACES technology, fund accounting and consolidated unit registry, and also acting as an authorized participant (AP). 

Mark England, Citi Australia and New Zealand Head of Securities Services, said “the fast-growing ETF space continues to be a hotbed of innovation, as we have seen with the dual-access model. Citi globally continues to enhance and expand its suite of solutions to keep pace with the market and this dedication has meant that we are one of only a few providers with an end-to-end proposition for Australian issuers.”

On November 13, Citi supported Dimensional Fund Advisors, one of the world’s largest issuers of actively managed ETFs, with the listing of three fully transparent core equities strategy, dual-access ETFs on the ASX. The successful launch has built on Citi’s existing relationship with Dimensional, having served as their Custodian and Fund Administrator since 2012.  

“We were delighted to support Dimensional with the listing of their three dual-access ETFs and look forward to supporting them as they grow their Australian business,” said Mark England. 

Citi Securities Services provides custody, trustee, funds and ETF services to over 400 Exchange Traded Products from 43 issuers across the Asia Pacific. Citi Securities Services has approximately USD$27.1 trillion¹ of assets under custody, administration, and trust worldwide, and a leading proprietary network spanning more than 60 markets. It provides cross-border support for clients with extensive on-the ground local market expertise, innovative post-trade technologies, customized data solutions, and a wide range of securities services that can be tailored to meet clients’ needs. 

¹As of Q3 2023