Citigroup Launches CitiDirect® for Securities in Malaysia
Hong Kong — Citigroup recently launched the CitiDirect® for Securities in Malaysia, a global web-based delivery platform that provides clients with real-time access to their Securities Settlement accounts.
Malaysia is the latest market to introduce this service after Taiwan, Hong Kong, Singapore and Japan last year. CitiDirect for Securities offers financial institutions an expanding suite of solutions including full service reporting, transaction initiation, corporate actions, market information, customer service tools, and securities lending reporting as well as advanced analytical tools. The newest enhancements allow clients to send all their securities settlement instructions from a single entry point, to view and respond immediately to corporate actions and to export data in a wide variety of file formats. CitiDirect for Securities provides up to the minute access to transaction data and market intelligence increasing efficiency, lowering operating costs, and improving overall performance.
"CitiDirect for Securities represents one of the largest technology investments for Citigroup's Securities and Fund Services Group and underlines our commitment to the securities business in Asia Pacific," said Margaret Dawson, Asia Pacific Region Head for Securities and Funds Services, Citigroup Corporate and Investment Banking. "We have seen a tremendous growth in the industry in Malaysia and across Asia Pacific. Given the current focus on technology as a business enabler, we believe that this service ultimately meets our objective — which is to help clients manage their business more effectively. At the same time, we continuously strive to introduce new products that meet the dynamic market requirements."
Citigroup launched one of its most successful business, Securities Services in Malaysia in 1985. Securities Services is a core business of Citigroup and it is a dominant global player with Assets Under Custody worth US$9.1 trillion globally. In Malaysia, from 2002 – 2005, Assets Under Custody has grown by 123% against a market capitalization growth in Bursa Malaysia depository of 38%. Revenues have increased 149% with transaction volume up by 63%. The Citigroup Securities Services clients' include insurance companies, unit trusts, fund managers and trustee companies. We provide integrated end-to-end solutions for global custodian clients in terms of asset servicing, clearing and settlement, cash management and foreign exchange.
Citigroup was named 'Best at Securities and Funds Services' in Asia Pacific in 2006 by Euromoney, 'Securities Services House of the Year' in Asia Pacific in 2005 by The Banker magazine, and 'Best Global Custodian in Asia Pacific' by Global Investor magazine in 2005.
Citigroup (NYSE: C), the leading global financial services company has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at www.citigroup.com
Citigroup Corporate and Investment Banking
Our Corporate and Investment Banking group achieves the extraordinary for our clients around the world. No financial institution is more committed to understanding and advancing the goals of its clients – our diverse and talented staff in some 100 countries advises companies, governments, and institutional investors on the best way to realize their strategic objectives. We create solutions for and provide the broadest possible capital and market access to thousands of issuer and investor clients, and no institution better executes the increasingly complex payment and cash management solutions required in today's global economy. Core business lines under Citigroup Corporate and Investment Banking include Global Capital Markets, Global Banking and Global Transaction Services.