Securities Country Manager
+2711 944 0310 Irma.firstname.lastname@example.org
+2711 944 0148 Jacqueline.email@example.com
CITI ESTABLISHES DIRECT CUSTODY AND SETTLEMENT CLEARING SERVICES IN SOUTH AFRICA
Global Transaction Services business has begun to provide Direct Custody and Settlement Clearing (DCC) services to its clients in South Africa. This new offering expands Citi's proprietary DCC network to 60 markets globally and 34 markets across EMEA.
Citi's application to operate as a Central Securities Depository (CSD) Participant was approved by the Controlling Body of Strate Ltd, South Africa's authorised CSD and the Financial Services Board. Citi will offer custody and settlement services across all three markets, equities, bonds and money market securities. Direct Custody and Clearing plays an integral role in the capital markets by providing the clearing and settlement services for broker dealers, global custodians and institutional clients to support trading and investing activities around the world.
Through its Securities and Fund Services business, Citi's industry-focused experts provide institutional investors worldwide with tailored solutions delivered through proven global platforms that feature modular, open architecture. With $12.5 trillion of assets under custody and the industry's largest proprietary network, clients can leverage Citi's local market expertise and global reach to extract value across the entire investment value chain. Global Transaction Services, a division of Citi's Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world.