The shift to a shorter settlement has raised concerns within the realm of securities finance, prompting firms to contemplate scaling back their lending activities until the new settlement system proves its reliability.
The biggest challenge for participants in APAC regarding T+1 in the US revolves around FX execution and navigating the associated funding gaps, but despite that, experts in Asia from the realms of custody and asset management report that the market has adjusted well to the change through to preparation and automation.
Citi securities services to consolidate its current regional fund accounting operation into a global operating model on Temenos Multifonds delivered as SaaS.
Double-digit rise in securities services revenue complemented by a 11% rise in AUC/A for the bank.
Citi will provide trustee, custody, fund account and ETF services for the ETFs which introduce the benefits of a traditional covered call strategy to the world of ETFs in Hong Kong for the first time.