Citi launches automated settlement solution in Hong Kong

Citi Securities Services announced the launch of a new fully automated solution that further improves Citi’s custodial capability in post trade instruction and settlement processing.

The proprietary technology involves a module that connects directly to Hong Kong’s central clearing and settlement system (CCASS). The automation enables clients to benefit from more timely and enhanced settlement of their trades in the Hong Kong market depository. The solution improves overall processing capability for users, in addition to providing greater flexibility, that is not constrained by the current fixed schedule of settlement batches in the market.

Citi developed this capability to meet the growing demand from clients for quicker settlement due to a variety of reasons, including efficient collateral management and expeditious trade settlement confirmation for reporting purposes. This enhancement plays a role in improving overall operational resilience thanks to greater settlement flexibility.

“In 2020, we were the first sub-custodian in Hong Kong to offer our clients real-time notification of the trade matching status. 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,” said Aditya Sharma, APAC head of Custody for Citi Securities Services, in a statement. “Our latest tool opens up a myriad of benefits for our end clients in post trade activities in Hong Kong.”


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