Citi announced that it has won a mandate to provide third-party securities lending services for Global X Funds’ family of exchange traded funds.
“Citi provided the right combination of leading expertise, risk management capabilities and flexibility to tailor its securities lending program to the specific characteristics and requirements of Global X Funds” says Bruno Del Ama, CEO, Global X Funds. “The global reach of Citi’s transaction services business is a great complement to our global asset management business.”
Added Neeraj Sahai, Global Head, Securities and Fund Services, Citi: “We greatly look forward to strengthening our relationship with Global X Funds by leveraging our capabilities both across Securities and Fund Services and across the entire Citi enterprise.”
Through OpenLendSM, Citi provides securities lenders boutique service to enhance their portfolio performance by delivering an open architecture that provides access to Agency, Third-Party, Hybrid and Exclusives lending by leveraging Citi’s key strengths: unsurpassed global branch network, flexibility, innovation, dynamic reporting, risk management and real-time controls.
Citi currently partners with ETF asset managers around the globe offering solutions focused on trading, clearing, securities finance, custody, back and middle office solutions and has made recent efforts to expand our depth of services from North America to the Asia Pacific region. In addition, Citi can tailor a securities lending program for ETF asset managers that leverages its agency, principal and ETF trading capabilities.**
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Steve Husk, CEO of FRSGlobal, discusses the factors financial institutions are faced with in order to equip themselves against the current regulatory environment.
The adoption of IFRS for Canadian companies is in full swing. As of January 1, 2010, Canadian companies are required to file financial statements under IFRS. Although Canadian GAAP and IFRS are similar, there are three main differences that have posed a challenge for companies: effectiveness testing, hedge accounting eligibility, and fair value measurement. While not an exhaustive list, these issues have posed the greatest challenge for Canadian corporations during the first quarter of 2010. The following paper clarifies some of the differences in hedge accounting between Canadian GAAP and IFRS and shares best practices for hedge accounting to help Canadian corporations navigate through the transition.
With this Spring 2010 Edition of the Phone System Comparison Chart quickly see differences between brands like Avaya, Mitel, Cisco, ShoreTel, 8x8, Panasonic, etc and compare over 94 phone systems by 52 brands for small to big business.