Romanian Depozitarul Central S.A. Appoints Citi to Provide International Securities Settlements
London / Bucharest, December 10, 2007 – Depozitarul Central S.A., the Romanian central securities depository, today announced that it has appointed Citi to provide international settlements through the local market infrastructure. The value added service will enable members of Depozitarul Central S.A. to efficiently settle international securities dual listed in Romania and subsequently international securities listed on other global regulated markets.
By aligning with Citi and leveraging its international settlement network, Depozitarul Central S.A. members will be able to settle and custody international securities utilizing existing Depozitarul Central S.A. accounts. All participants will enhance their ability to execute strategies in global markets through access to a common technology platform leading to economies of scale, increased efficiencies and improved client service.
Adriana Tanasoiu, General Manager & CEO of Depozitarul Central S.A. said, “The global securities market is undergoing rapid transformations and it is important that infrastructures continue to innovate and find new ways to create opportunities for their clients. By working with Citi and leveraging its global settlement network, Depozitarul Central S.A. is responding to its clients’ need for international settlements and custody by providing such services to them in an efficient and cost effective manner.”
Giulio di Cerbo, Managing Director and Global Head of Citi’s Infrastructure group, said, “Citi is pleased to be working closely with Depozitarul Central S.A. to create this innovative market solution. By responding proactively to client demands in an increasingly globalized and evolving regulatory market, Depozitarul Central S.A. is a leader in this space. Citi is proud to be using its international capabilities to provide this solution in Romania, as it clearly highlights the growing trend of local depositories seeking to offer international capabilities as a value added service for clients.”
About Depozitarul Central S.A.
Depozitarul Central S.A. is the only provider of depository, registry and corporate actions services to issuers of securities traded on regulated markets and alternative trading systems in Romania. Depozitarul Central S.A. performs the clearing and settlement of the trades and it is authorized as National Numbering Agency.
The operations of Depozitarul Central S.A. are conducted through the system RoClear. Depozitarul Central S.A. is a member of ECSDA (European Central Securities Depositories Association) and ANNA (Association of National Numbering Agencies).
Citi, 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. Citi's major brand names include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at www.citigroup.com or www.citi.com.