California sunlight, sweet Calcutta rain, Honolulu starbright - the song remains the same. Citigroup Global Market's fast start this year remained insurmountable throughout the third quarter this year, as it remained atop the league tables for the third straight quarter. Competition is fierce, however, as positions two through six are separated by just $7 billion.

Citigroup maintained its position in the ABS underwriting market through the end of the third quarter with roughly $48 billion of bonds placed with investors, according to data maintained by Thomson Financial. Citigroup has an $8 billion lead on its closest competitor, despite being only the fifth-most active manager during Q303, with $12 billion sold in the three-month period. Citigroup has a 11.5% market share among underwriters, a margin that has been narrowed from 13% after Q203 and 18% after Q103.

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