Citi and UBS offer joint post-trade solution in APAC
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Citi and UBS offer joint post-trade solution in APAC 07 November 2012Hong Kong Reporter: Jenna Jones
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Citi and UBS have launched a combined service offering that provides a post-trade solution to broker-dealers in Asia Pacific.
The joint solution will provide middle office, back office, clearing, asset servicing and custody capabilities to broker-dealers that are seeking to minimise cost, while retaining operational flexibility.
Andrew Murfin, regional head of UBS’s group operations, said: “Firms are increasingly having to review their operating options given the extreme pressure on cost bases and a regulatory environment that is highly challenging and rapidly evolving."
“UBS believes that this will drive a preference for buying expertise to service business rather than developing processes and technology in-house which require significant investment and lead to an unsustainable level of fixed costs,” added Murfin.
David Russell, regional head for Asia Pacific securities and fund services at Citi, said: “Citi is pleased to be working with UBS on this market-leading solution for the region. The collaboration reinforces our commitment to our clients, by working with select partners to build operational infrastructures to better serve market participants.”
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