Citi enhances its collateral service 17 September 2012New York Reporter: Georgina Lavers
Image: Shutterstock
Citi has enhanced OpenCollateral(SM) to provide asset managers with automated collateral position reconciliation via SWIFT. This requires fewer collateral accounts and reduces the number of collateral instructions.
"Now our clients can rely on us to manage collateral directly from their existing custody accounts," said Rajen Shah, global head of collateral Management at Citi Transaction Services. "Receiving this data directly from the custodian avoids the need for asset managers to be involved in instructing every collateral movement."
"Our early-to-market solution provides better efficiency for investors by enabling them to concentrate all their unencumbered assets within their principal custody accounts.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one securities finance news source this
year, make sure it is your free subscription to Securities Finance Times
Image: Shutterstock 