Citi has introduced enhancements to its post-trade instruction and settlement processing capability in Hong Kong, supporting client demand for faster settlement to drive greater collateral management efficiency, timely reporting of settlement confirmations and other gains in post-trade operational performance.
This new proprietary automated solution links directly to Hong Kong’s central clearing and settlement system (CCASS) and will enable faster and more efficient trade settlement at the Hong Kong central securities depository.
Citi indicates that it continues to invest heavily in technology and connectivity to financial market infrastructures (FMIs) and this latest release delivers the latest set of improvements in its custody capability in post-trade instruction and settlement processing.
Aditya Sharma, head of custody for APAC at Citi Securities Services, says: “In 2020, we were the first sub-custodian in Hong Kong to offer real-time notification of the trade matching status to our clients.
“The latest solution is a continuation of our efforts to provide a complete suite of services that are as close to real-time as possible. Our latest tool opens up a myriad of benefits for our end clients in post trade activities in Hong Kong.”
Citi’s head of securities services for Hong Kong, Caroline Chan, adds: “We are constantly seeking to improve our client experience through the deployment of technology and greater automation.
“As a leading provider of securities services, it is incumbent upon us to continuously collaborate with the relevant FMIs and other related parties to deliver results that ultimately benefit our clients.”
