Citi launches securities lending service in India

5 October 2012

Citi’s Securities and Fund Services, a division of Citi Transaction Services, today announced that it is the first international custodian bank to offer securities lending services on the National Stock Exchange (NSE) in India.

This launch reinforces Citi's dominance in the emerging markets globally, making its proprietary OpenLendSM platform now available in 72 markets globally.

In a global securities lending environment dominated by over-the-counter trading, this service will allow both Citi's domestic Indian and offshore clients, for the first time, seamless market access to the anonymous exchange-traded central counterparty model prevalent in India. This development is testimony to Citi's established and ongoing involvement in the securities market in India and is supported by its OpenLendSM platform, an open architecture securities lending solution that leverages Citi's global presence, robust risk management controls and innovative trading strategies to help clients achieve their performance objectives.

"We have been in involved with the development of the Indian securities market since we first opened our doors in 1902. This landscape has seen remarkable transformation, and in response to new market conditions, we have built on our experience and expertise to deliver a comprehensive exchange securities lending solution to our clients for the Indian market," said Debopama Sen, Head of Securities and Fund Services for Citi Transaction Services in India.

"This initiative complements our existing client offering for our domestic and international clients and reinforces Citi as a pioneer in the securities lending industry. It is through the combination of our deep on-the-ground expertise and global product capabilities that we are able to deliver such market-leading solutions for our clients," said David Russell, Regional Head, Asia Pacific, Securities and Fund Services, Citi Transaction Services.

"The opportunity in the emerging markets, especially given the impressive gains over the past 12 months, has kept them a focal point of our securities lending business. We are leveraging Citi's market expertise and global reach to turn these opportunities into optimized returns for client assets," said David Martocci, Global Head of Securities Finance for Citi Transaction Services.

Citi OpenInvestorsm is the investment services solution for today's diversified investor that combines specialized expertise, comprehensive capabilities and the power of Citi's global network to help clients meet performance objectives across asset classes, strategies and geographies. Citi OpenInvestorsm provides institutional, alternative and wealth managers with middle office, fund services, custody, investing and financing solutions that are focused on their specific challenges and customized to their individual needs.

Citi Transaction Services, a division of Citi's Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 95 countries, Citi's Transaction Services supports over 65,000 clients. As of the second quarter of 2012, it held on average $396 billion in liability balances and over $12 trillion in assets under custody.