Citi Securities Services Evolution 2025

44 | Securities Services Evolution 2025 Asset servicing: early signs of progress Back in the world of traditional securities, the automation of asset servicing is a notable priority in Asia Pacific, higher than in other regions. 17% of respondents rate this as the most impactful trend on their own businesses (against the global average of 12%), owing largely to high levels of manual processing and of terminal-based event management across the region. With markets such as Singapore and Australia now offering higher levels of automation based on ISO 20022 standards (and with Hong Kong and Korea both planning to upgrade their platforms), it is no surprise that growing volumes of firms are prioritizing asset servicing transformation in 2025. Equally, in the proxy voting space, Proxymity’s significant progress in driving real-time, automated connectivity in the Australian market looks set to be a stand-out example for other markets across the region. 2025 2026 2027 – 2028 2029 – 2030 May 2025: India: Foreign investors able to transact T+0 77 (voluntary) Australia & New Zealand (post ASX Release 2) Consultations in Hong-Kong 78 , Japan & Malaysia (expected) Migrations likely 2028+ Platform Modernization Mid 2025 – 2027: HKEX: Orion Cash Platform roll-out 79 ETA April: Australia ASX Release1 – Clearing Services 80 Q2 2026: HKEX Issuer Access Platform released 81 End 2027: HKEX Orion Cash Platform roll-out delivered Australia ASX: Release 2 Settlement & Sub-register services (Date TBD likely April - Dec) Digital Assets By 30th June: Singapore: MAS 82 Deadline for Crypto Firms Offering Overseas Digital Token Services MAS licensing for digital token services applies under the FSMA 1st August: Hong Kong: HKMA Stablecoins 83 Ordinance take effect Key Dates