Citi Global Transaction Services launches as settlement partner to LCH.Clearnet for Plus Markets
LONDON, VIENNA Citi Global Transaction Services business today announced that LCH.Clearnet has appointed Citi as settlement agent in 15 markets globally. This partnership recognises Citi's extensive pan- European securities network and its strong links with the European central securities depositories.
LCH.Clearnet is a leading independent , central counterparty serving markets around the world, These include major international exchanges and platforms, equity markets, exchange-traded derivatives markets, energy markets, the interbank interest rate swaps market and the majority of the Euro-denominated and sterling bond and repo markets. LCH.Clearnet was recently appointed as the clearing agent for Plus Markets Group.
Satvinder Singh, Managing Director and Head of Citi’s Direct Custody and Clearing/ Intermediaries business in Europe, Middle East and Africa, Citi, said, "Citi is extremely pleased to be partnering with LCH.Clearnet as settlement agent for the Plus Markets exchange. Our settlement capabilities in over 53 countries and our established relationships with the European central securities depositories will ensure local settlement efficiently. We look forward to working with LCH.Clearnet in supporting this exciting new trading venue."
Citi’s Global Transaction Services offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network spanning over 100 countries, Citi's Global Transaction Services supports over 65,000 clients. As of the 2nd quarter of 08, it held on average $276 billion in liability balances and $12.8 trillion in assets under custody.
About Citi’s Institutional Clients Group:
Citi’s Institutional Clients Group serves corporate clients, governments and institutional investors around the world, providing expertise and innovative solutions in banking, markets, transaction services and alternative investments. With a history dating back nearly 200 years, Citi today has a global network that includes offices in 104 countries, trading desks in more than 80 countries and transaction services infrastructure covering 140 countries. Citi aims to be trusted advisor to our clients, to execute flawlessly, to strategically commit capital and to always focus on innovation.
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, Citi Smith Barney, Banamex and Nikko. Additional information may be found at www.citigroup.com or www.citi.com.
LCH.Clearnet is a leading independent central counterparty, serving markets around the world, These include major international exchanges and platforms, equity markets, exchange-traded derivatives markets, energy markets, the interbank interest rate swaps market and the majority of the Euro-denominated and sterling bond and repo markets.