Citi is using bot technology in Hong Kong to offer its Securities Services clients real-time processing for matching and settlement, giving them the ability to view their trade status consistently throughout the day and to be able to activate stock borrowing if needed.
The inhouse-developed automated system represents a significant development for clients over their current trade status visibility, which relies on specific matching/settlement batch runs available to market participants. Any requests outside of these windows would have to be manually pulled.
The solution uses bot technology to pull data throughout the day from the clearing house and depositary system in Hong Kong, send them in real time to Citi’s custody system, and from there onwards to clients.
”This new capability will also feed into our data platform, and automatically benefit clients using our data and API offering," says Aashish Mishra, Asia Pacific head of direct custody and clearing. "Our data strategy seeks to improve real time integration with client systems and drive efficiency gains—online data dissemination and reporting is a key part of that.”