Citi is helping the Czech Capital Market and the Prague Stock Exchange
Prague, Czech Republic - November 11, 2013 – Citi has launched Clearing Agent and General Clearing Member services for international broker dealers on the Prague Stock Exchange. Now, international broker-dealers can focus on their core trading activities while utilising Citi for infrastructure connectivity and clearing activities, without having to be a direct member of Central Securities Depository Prague.
"The Prague Stock Exchange has made significant strides to open up the Czech market to the international finance community and these services will help contribute to the future growth of the Czech capital markets," said Sanjiv Sawhney, EMEA Head of Citi Securities and Fund Services.
"We are pleased that Citi is now offering this type of service," says Petr Koblic, General Manager of the CEE Stock Exchange Group and the Prague Stock Exchange. "These new Citi services might play an important role in the decision making process of large brokers who are interested in becoming members of the Prague Stock Exchange, however cannot become a member of the Central Securities Depository due to the challenging technical and administrative requirements and therefore need their own external clearing agent in order to be able to trade. We believe that this step will attract other large international broker dealers to the Prague Stock Exchange."
The Prague launch extends the scope of Citi's Clearing & Settlement Services to 13 markets in EMEA, reflecting the bank's continued commitment to provide clients with the ability to access multiple execution venues and pools of liquidity across region.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides 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, transaction services, and wealth management.
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