Citi Expands Managed Accounts Connectivity with CitiConnect

New York, July 31, 2008  – Citi today announced the expansion of its proprietary managed accounts connectivity hub, CitiConnect for Separately Managed Accounts (SMAs). With this expanded connectivity, CitiConnect for SMAs, developed by Citi’s Securities and Fund Services business, becomes the most comprehensive hub for straight-through-processing of reconciliation, trading and allocations in the managed accounts industry.

Designed to be used by investment managers, CitiConnect will enable best execution of SMA products by allowing users to send trades on all their SMA accounts from one unified order management system. Through fully electronic and automated connections, this capability addresses connectivity needs to over 90% of the managed accounts industry across multiple styles, sponsors and programs.

“CitiConnect for SMAs provides our clients with unified trade processing from a single platform. Its features and functions lead the SMA industry by supporting the ability to trade away and step-out on an electronic basis, thereby providing an unsurpassed level of automation,” said Jonathan Flitt, Head of SMA Connectivity at Citi’s Investment Administration Services.

Industry Leading Connectivity

CitiConnect for SMAs has over 400 different live connections to sponsor, custodian and industry utilities that support managed accounts including:

  • The top six sponsor firms
  • Industry-leading correspondent clearing firms, Turnkey Asset Management platforms, banks, regional brokers and independent brokers of managed accounts

Best Execution Features

With this new connectivity, investment managers can achieve best-in-class execution for their SMA business through CitiConnect’s technology, including:

  • Time stamps on all trades and executions
  • Unified trading and blocking of orders from all sponsors and styles
  • Electronic trade routing to sponsors and step-out/trade away to brokers
  • Electronic communication of allocations and settlement for step-out trades
  • Robust trade rotation
  • Ability to merge SMA and institutional trading flows for unified execution across business segments
  • Access to automated trading tools, such as direct market access, algorithmic trading, crossing engines and automated market-making tools
  • Data availability for industry standard best execution measurement tools

CitiConnect for Securities was first launched in 2002. In addition to the new SMA features of CitiConnect announced today, Citi’s Securities and Fund Services business continues its track record of innovation in the managed accounts industry. Examples include the partnership with The Depository Trust and Clearing Corporation to launch the Managed Account Service account opening and the launch of the account maintenance hub to offer true automated straight-through-processing for investment managers and sponsors.

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