Citi Securities Services Evolution 2025

Securities Services Evolution 2025 | 9 In order to deliver global and highly relevant insights on the future of securities settlement across Asia Pacific, Europe, North America and Latin America, this whitepaper draws on two core sources of qualitative and quantitative expertise. Quantitative In June 2025, Citi Investor Services partnered with the ValueExchange to run an online survey of 537 market participants around the globe, including FMIs, custodians, banks, broker-dealers, asset managers and institutional investors (insurance, pension, sovereign funds,etc). Qualitative Throughout June and July 2025, 13 FMIs and industry participants (from all regions and profiles) participated in in-depth interviews, to share their specific insights and experiences. FMI representatives included exchange and depository leaders, while industry participants included industry associations and taskforce leadership. This report has been prepared in partnership with the ValueExchange, based on all of these insights. Methodology 20% Bank 14% Custodian 23% Asset manager 22% Broker-dealer 18% Institutional investor 3% Others 24% North America 12% Latin America 7% Africa & Middle East 28% Asia Pacific 29% Europe Geographical breakdown Market participant breakdown