Citi recently enhanced its global Online Investments service to offer additional account options—nominee and fully disclosed— for money market mutual funds.
The new account offerings allow clients to use all features and benefits of the current omnibus account model, including straight-through processing, consolidated online trades, balance and dividend reporting and direct automated settlement.
“We know that transparency is increasingly important to our clients, which is why we have enhanced our industry-leading web-based investment service supporting local investment options in over 30 countries and 19 currencies,” Elyse Weiner, the global dead of liquidity management services for Citi Treasury and Trade Solutions, said. “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.”
With the fully disclosed account option, clients can choose to open an investment account directly with the fund company, allowing for a clearer definition of counterparties and fully transparency between investors and investment vehicles. With the nominee structure, fund complexes will have access to real-time data on balances and client activity, which will help to maintain the client-fund relationship.
Cachematrix, a money market fund, bank product trading and sweep technology provider, will power Citi’s money market fund portfolio holdings analytics module, which will provide clients with the ability to see consolidated underlying money market fund holdings to identify potential exposure risk.
“Corporations consider transparency into their investments to be vital in today’s environment and it is a critical factor in selecting an investment platform,” Weiner said. “We are pleased to offer these enhanced risk assessment tools to our global clients.”