Source: EquiLend
Citigroup Global Capital Markets and Citibank North America today announced that they are using EquiLend, the industry leading securities finance platform, for its full suite of services in both trading and operations.
Citigroup was looking for a global centralized solution to improve automation and has selected EquiLend to process both equities and fixed income across the U.S.,
Europe and Asia.
As one of the foremost global securities finance businesses, Citigroup has existing relationships with many of the firms on the EquiLend platform. As such, the addition of Citigroup to EquiLend's client roster will increase automation amongst counterparties and facilitate higher volume business.
"EquiLend has a terrific array of services and we are pleased to partner with them to help support the growth of our securities lending business," said Tom Tesauro, Co-Head of Citigroup's Global Equity Finance. By scaling up its business, Citigroup is using the EquiLend solution to bring additional liquidity to the market.
"Working with Citigroup is an important milestone not just for EquiLend but for all of the clients on EquiLend who do business with Citigroup," said Brian Lamb, CEO of EquiLend. "Citigroup's use of the EquiLend platform will enable it to do more business with existing counterparties, benefiting all EquiLend users."