Maybank Securities and Citi announced a global securities lending offering in Singapore. Leveraging Citi’s global agency lending capabilities alongside Maybank’s reputation as a securities house in Singapore will facilitate the lending of retail clients’ global equity holdings using Citi’s platform.
Maybank Securities clients will earn a portion of the fees paid by borrowers of securities to monetize otherwise idle assets. Maybank will tap its large ASEAN (Association of Southeast Asian Nations) client base to use Citi Securities Lending Access™ (CSLA) platform, which also uses technology from Sharegain.
Citi was the first global bank to work with Sharegain, offering a solution that digitizes the entire securities lending lifecycle and democratizes the securities lending market. The collaboration with Maybank Securities marks the introduction of CSLA in Asia.
“With CSLA, Citi is enabling a broader base of market participants to reap the benefits of securities lending,” said Eusebio Sanchez, head of Execution Services for Japan, Asia North and Australia and Asia South at Citi Securities Services, in a statement. “In addition to benefiting our clients and their underlying customers, the solution gives borrowers access to new pools of untapped securities. We are proud to bring CSLA to Asia with Maybank Securities as we continue to develop leading digital solutions that bring value to our clients and address their evolving post-trade needs.”
Alexander Thorhauge, head of Retail Business at Maybank Securities said in a statement: “Maybank Securities stands by its commitment to continuously enhance our products and solutions for our clients. With the launch of securities lending, our retail clients now have a unique opportunity to generate additional returns from their existing portfolios. We are excited to collaborate with Citi to leverage its state-of-the art CSLA platform for this differentiated offering.”