SimCorp and Citi Securities Services have announced plans to integrate the latter’s post-trade custody data to offer a seamless front-to-back user experience for mutual clients.
The collaboration aims to help these clients navigate the challenge of data consolidation and consumption and enhance productivity.
Citi becomes the latest custodian to partner with SimCorp, following similar agreements with JP Morgan, State Street and Deutsche Bank over the past two years.
“Our clients continually look to us to improve operational efficiencies, and this alliance will allow us to better serve our mutual clients and provide tangible benefits,” said Okan Pekin, global head of Citi Securities Services.
Georg Hetrodt, chief product officer at SimCorp noted that enabling robust and consolidated access to operations and data is essential to the two firm’s shared clients. “This strengthened collaboration will ensure that our clients have the best possible foundation, helping them to optimise their operating model and drive efficiency,” he said.
The integration between SimCorp and Citi is an extension of Citi’s data services offered through its data and analytics platform, Citi Velocity Clarity. Citi Velocity Clarity allows clients to interact with and gain insights from their data, with prioritised workflows and analytics, through one single platform.
“The integration of post-trade data into SimCorp Dimension will allow clients who use SimCorp Dimension to easily view up-to-date statuses and investment information though their own lens and gain efficiency by accessing all of their information and workflows through the channel of their choice,” said Fiona Horsewill, global head of data for Citi Securities Services..”
“This partnership with Citi is key to our interoperability strategy and offering clients robust yet simplified access to the markets network of data that is pivotal to their processes” added Jaki Walsh, VP operations and accounting at SimCorp.