21 October 2017
visit www.atos.net

LCH.Clearnet and Citi team on Chi East post trade

25 October 2010  |  2747 views  |  0 Source: Citi

Citi's Global Transaction Services has been selected by LCH.Clearnet Ltd (LCH.Clearnet) to perform settlement agent bank services for the first Pan Asian dark pool, Chi East.

Chi East, the joint venture between Chi X Global and Singapore Stock Exchange, will launch in Q4 2010 as the first Pan Asian dark pool of its kind. Chi East aims to bring the same post trade efficiencies and risk management gained in Europe via regional Central Counterparties. LCH.Clearnet has been appointed as its Pan Asian Central Counterparty, and they in turn have chosen a long time partner, Citi, to provide all the necessary downstream settlement services.

Citi and LCH.Clearnet have a long and established working relationship, providing clients and execution venues with pan European clearing and settlement services. Their collaboration for Chi East will further strengthen the partnership between Citi and LCH.Clearnet, while also extending the advantage of Citi's vast Asian network to LCH.Clearnet clients.

"LCH.Clearnet has a tradition of delivering superior risk management and cost efficiencies across asset classes. We are very pleased to work with Chi East and Citi to continue this work while increasing the geographic span for our clients," said Alberto Pravettoni, Managing Director, Alberto Pravettoni, Managing Director, Group Corporate Strategy LCH.Clearnet . "Everyone can see Asia will be the world's growth engine and it is fantastic to be an integral part of the evolution"

"We applaud Singapore Stock Exchange and Chi X Global on their efforts to bring a regional trading venue to Asia Pacific. This will truly change the landscape for the better, and we are proud to play our part in supporting LCH.Clearnet," comments Kevin Rideout, Global Head of Market Infrastructures, Citi's Global Transaction Services. "This is a major step forward for the Asia Pacific investment and brokerage community

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.sibos.com

Top topics

Most viewed Most shared
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
10182 views comments | 22 tweets | 26 linkedin
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
9378 views comments | 17 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8987 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8072 views comments | 9 tweets | 17 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
7776 views comments | 10 tweets | 22 linkedin

Featured job

Find your next job