Direct Custody and Clearing
Citi's Direct Custody and Clearing provides asset servicing and transaction functions primarily to intermediaries such as broker-dealers and banks, and increasingly to fund managers, insurance companies and other global investors through our proprietary network in over 60 markets. The scale of this network, provided through our own offices and staffed with Citi experts in each market, sets Citi apart from the competition.
The power of the Citi network
Through our proprietary network, Citi Direct Custody and Clearing delivers the highest standards of technology and processes, as well as a level of expertise, quality and consistency that is unmatched. Additionally, the market knowledge and relationships created by such a widespread local presence enable Citi to develop new industry solutions and help lead the process of change in the securities marketplace.
Our clients benefit from:
- Enhanced cut-off times for instructions, cash and corporate actions
- Faster responses to queries
- The highest straight-through processing (STP) rates in the industry, averaging more than 95%
- Regional service centers that deliver consistently high quality in operations, technology and customer service
- Leadership and advocacy with local market regulators and infrastructures
Capabilities and services
Our branch network is backed by a single global processing platform, bringing control and consistency to our clients.
We offer a breadth of services, such as:
- Flexible connectivity and information management options
- Client-defined reporting
- Liquidity solutions, including cash management and liquidity financing
- Collateral management and monitoring
- CLS® settlement capability
- Transaction processing, including pre-matching, instruction repair and processing, settlement and clearing, fails coverage and on-exchange processing
- Transaction execution, including order routing and the seamless transfer of settlement instructions between Citi and the final investor
- Flexible partnerships structure through our market memberships: Clearing agent, Settlement agent, paying agent and/or account operator
- Asset servicing, including corporate actions, securities lending, proxy voting and tax reclamation
- Middle- and back-office outsourcing
Market leadership and advocacy
We have a long history of shaping and accelerating the process of change in the securities markets’ infrastructure, actively participating in key working groups and industry committees in each market in which we are present.
We work closely with the local market infrastructures and we are a sought-after and well-regarded consultant to the stock exchanges, depositories and clearinghouses. We also work closely with the stock markets, trading platforms and central counterparties to create a robust, efficient and competitive capital market infrastructure for tomorrow.
Citi is a member of the local market bank associations and regularly works with central banks and regulators to develop new initiatives in the clearing and settlement area. In this and all of our market advocacy efforts, our goals are to reduce market risk and improve market transparency and efficiency—to the ultimate benefit of all Citi clients.
For more information about Citi Direct Custody and Clearing, please contact your Relationship Manager.
CLS is a registered trademark of CLS UK Intermediate Holdings, Ltd.
European Markets Infrastructure Regulation (EMIR)
As a clearing member that provides clearing services through an EU central counterparty ("EU CCPs") we are required to, under the European Markets Infrastructure Regulation ("EMIR"), publically disclose the levels of protection and costs associated with the different types of accounts available at EU CCPS, and describe the risks associated with the different levels of segregation. In compliance with Article 39(7) of EMIR, we have provided details of the different account structures and these can be found at the following link 'Citibank International Plc Account Structures for Central Counterparty Clearing'
In addition, and in compliance with Article 38(1) of EMIR, we have provided details of costs associated with clearing and other related services separately and these can be found at the following link
- Citibank International Plc Pricing Guidelines for Central Counterparty Clearing
- Bank Handlowy Pricing Guidelines for Central Counterparty Clearing
- Citibank Europe Plc Pricing Guidelines for Central Counterparty Clearing
Please note that we need to update the disclosure document and pricing guidelines as and when CCPs finalize their arrangements and rules and such updates will be published on this website.