Citi enhances trade and settlement automation for Taiwan equity clients
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Citi enhances trade and settlement automation for Taiwan equity clients 08 October 2020Hong Kong Reporter: Becky Bellamy
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Citi Securities Services has enhanced its trade and settlement automation for Taiwan equity clients with the launch of a host-to-host connection with the Taiwan Depository and Clearing Corporation (TDCC).
The new solution will allow Citi to offer its clients near-real-time trade status and settlement
confirmations for certain equity settlements, including securities lending and exchange-traded fund (ETF) activities.
Citi highlighted that it鈥檚 the first custodian bank in Taiwan to use host-to-host connectivity for
intraday feeds and to integrate it with an automated process for securities lending.
Bryan Murphy, global head of sales, DCC and intermediaries client coverage at Citi, reveals there has been 鈥渟ignificant growth鈥� with securities lending and ETF trading activity with the bank鈥檚 clients in Taiwan.
Aashish Mishra, Asia Pacific head of direct custody and clearing (DCC) at Citi, says: 鈥淲e are very pleased to roll out this solution in Taiwan, a strategically important market for Citi Securities Services and our clients. This, along with the innovative solutions that we recently launched to support automation in the Hong Kong market, demonstrates Citi鈥檚 ongoing commitment to working with market infrastructures to deliver local solutions to our global clients.鈥�
Han-Chiang Chu, president of TDCC, adds: 鈥淲e are very glad to see Citi Taiwan using our host-to-host offering to provide better services to foreign investors.鈥�
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