Citi named third party for Global X ETFs

Citi has announced it will be providing third-party securities lending services for Global X Funds’ range of ETFs.

The company already works with ETF asset managers around the globe, providing solutions focused on trading, clearing, securities finance and custody.

With $12.4trn of assets under custody, Citi says that its clients can leverage its local market expertise and global reach to extract value across the entire investment value chain.

Global X Funds CEO Bruno Del Ama says that the scope of Citi's transaction services business complements his company's global asset management business.

Citi's boutique OpenLend service aims to enhance portfolio performance by delivering modular, open architecture. The firm says that it has an unsurpassed global branch network, and can tailor a securities lending programme by leveraging its agency, principal and ETF trading capabilities.

Global X Funds offers a suite of China-sector and Brazil-focused funds, as well as ETFs across global commodities and cleantech resources.

Its most recent launch was the FTSE Norway 30, the first ETF offering access specifically to Norway.