Citi have enhanced their investment portal, Citibank® Online Investments, adding "Nominee" and "Fully Disclosed" account options to the current omnibus account model - see figure - providing enhanced balance transparency for the money market funds held by their clients.
Citibank® Online Investment account alternatives
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In the Nominee structure, the holders of the funds are identified within the Citi account, whilst in the Fully Disclosed Structure the investor holds a direct account at the fund so allowing the fund to have full transparency of balances and activity.
All account options include straight-through processing (STP), consolidated online trades, balance and dividend reporting, as well as direct automated settlement to a Citibank operating or custody account while addressing clients' requirements for additional disclosure reporting.
Centralised global investing
Citi's portal provides local investment options in over 30 countries and 19 currencies. Money market funds are available from U.S. domestic and international (non-U.S.) offshore fund providers with access to over 150 funds.
Elyse Weiner, Global Head of Liquidity Management Services for Citi Treasury and Trade Solutions, believes that, "By adding multiple account options, Citibank Online Investments is able to match or surpass the capabilities of every other portal on the market today. These new account options include an ability to provide STP for all investments regardless of the account set-up. The breadth of our footprint, combined with the depth of Citibank Online Investments' functionality truly sets us apart."
In the ongoing development of the investment portal, Cachematrix, a core provider of institutional money market fund, bank product trading and sweep technology, has been selected to power Citi's money market fund portfolio holdings analytics module. This analytics module will provide clients with visibility to the consolidated underlying money market fund holdings, enabling them to quickly and easily identify certain potential exposure risk. Exposures will be categorized by Country, Holding, Security Category, Issuer, and Liquidity Distribution, allowing users to select a specific data point and drill deeper into the data and customize specific reports.
In some ways this is a needed, catchup development of their investment portal by Citi. However, it is the breadth of the online investment options available combined with their global cash management services that differentiates the Citi investment portal, not just this new functionality.
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