23 August 2017
visit www.avoka.com

Citi to provide settlement for Malaysian exchange

24 November 2000  |  604 views  |  0 Citi to provide settlement for Malaysian exchange

Citibank Worldwide Securities Services has been appointed settlement and depository service provider for the Labuan International Financial Exchange in Malaysia's offshore financial centre.

LFX is a Web-based exchange that has been created to trade US dollar-denominated financial instruments and securities. LFX is not subject to the onshore selective capital controls and will be regulated by the Labuan Offshore Financial Services Authority (LOFSA), rather than the Malaysia Securities Commission.

Under the appointment, Citibank will provide securities settlement services for the LFX and its trading agents, and US dollar cash clearing services through its New York office.

"This is a natural extension of our clearing product set to be an infrastructural provider to an exchange," says Anthony Galliano, Asia Pacific region head for Citibank's Worldwide Securities Services.

Citi was a member of the settlement system working group of the Kuala Lumpur Stock Exchange and the first custodian to develop a systems interface to the Malaysian Central Depository (MCD) in August 1998.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Oracle and Citigroup plan giant B2B exchange

Oracle and Citigroup plan giant B2B exchange

14 November 2000  |  4321 views  |  0 comments
Citi opens new online brokerage

Citi opens new online brokerage

13 November 2000  |  2491 views  |  0 comments
Citi connects with chemicals markets

Citi connects with chemicals markets

07 November 2000  |  2186 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comdownload the paper nowvisit www.dorsum.eu

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
12734 views comments | 27 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
11361 views comments | 22 tweets | 34 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
10517 views comments | 21 tweets | 34 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
10476 views comments | 10 tweets | 8 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
10440 views 0 | 6 tweets | 1 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job