16 July 2018
Visit www.gemalto.com

Citi becomes SGX bank clearing member

09 February 2010  |  3264 views  |  0 Source: Singapore Exchange

Singapore Exchange Limited (SGX) today announced that Citibank N.A. has become a new Bank Clearing Member for the SGX securities market.

"SGX is pleased to welcome Citibank N.A. as a Bank Clearing Member. Bank Clearing Members bring additional customer segments to our marketplace, widening the spectrum of our participants. Our customers can expect to benefit from wider choices of clearing and settlement services. Ultimately, the enlarged distribution network leads to a more vibrant market," said Mr. Gan Seow Ann, Senior Executive Vice President & Head of Markets at SGX.

SGX rules allow Singapore-licensed banks regulated under the Banking Act to become a Securities Clearing Member, Derivatives Clearing Member and/or Derivatives Trading Member. The rules allowing banks to apply for Securities Clearing membership became effective 1 July 2008. Banks therefore need not incorporate a separate company to apply for the respective memberships, thus allowing them greater capital efficiency.

Following Citibank's admission, SGX has two banks among its 25 Securities Clearing Members.


Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
Visit www.aciworldwide.comVisit https://secure.vasco.comVisit http://go.jumio.com/finextraAd

Top topics

Most viewed Most shared
Flux ready for take-off on Barclays Launchpad; scores trial with Costa CoffeeFlux ready for take-off on Barclays Launch...
10553 views comments | 4 tweets | 9 linkedin
Handelsbanken trials micro contactless cardsHandelsbanken trials micro contactless car...
9572 views comments | 18 tweets | 30 linkedin
PayPal ready to spend $3bn a year on acquisitionsPayPal ready to spend $3bn a year on acqui...
8113 views comments | 13 tweets | 17 linkedin
Championing financial inclusion and helping the UnstoppablesChampioning financial inclusion and helpin...
8109 views comments | 3 tweets | 1 linkedin
No greater change will occur than that in financial servicesNo greater change will occur than that in...
7662 views comments | 7 tweets | 13 linkedin

Featured job

Find your next job