Citi executes first SBL trade in Romanian securities
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Citi executes first SBL trade in Romanian securities 22 January 2021 Romania Reporter: Drew Nicol
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Citi has executed its first securities lending transaction in Romanian securities through its agency securities lending business.
With the addition of Romania, Citi now supports securities lending in 74 markets globally.
鈥淐iti is committed to providing access to new markets for our clients,鈥� says David Martocci, global head of agency securities lending at Citi. 鈥淭he continued expansion of our product offering leverages our deep on-the-ground expertise and enables us to present our clients with new and unique revenue opportunities.鈥�
Alin Duhnea, senior product manager at Citi Romania, says the first trade is 鈥渁 key development in an emerging market with great potential.鈥�
鈥淭he strength of our securities services business is our ability to deliver local expertise and innovation to our global clients. Our in-depth understanding of the market, close relationships with local regulators and market infrastructures, and client focus are the foundation of Citi鈥檚 leading position in Romania.鈥�
The names of the counterparties involved and the details of the loan are not publicly available.
Citi Securities Services boasts more than $24.9 trillion of assets under custody and administration and a proprietary network spanning over 60 markets.
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