Citi expands direct custody and clearing services to Finland
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Citi expands direct custody and clearing services to Finland 26 August 2020Helsinki Reporter: Rebecca Delaney
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Citi has expanded its Nordic offering by launching direct custody and clearing services in Finland.
As part of the new launch, Citi will become a member of the central securities depositary Euroclear Finland, with the ability to access its system through a single legal vehicle (SLV) to its Dublin head office.
Citi’s SLV provides clients with centralised, direct access to key European locations, including the major TARGET2-Securities (T2S) markets.
Ola Mjorud, head of securities services, Nordics, Citi, commented: “During a period of intense change to the capital markets, we are very pleased to offer a pan-Nordic service that gives clients the benefit of harmonised global access with on-the-ground market expertise at market leading cut-off times.”
Hanna Vainio, CEO of Euroclear Finland, added: “We welcome Citi as a participant in our market and look forward to having a global bank as a direct member.”
“Finland is a market that is presently undergoing various important infrastructure changes, such as upcoming entry into T2S. Attracting clients such as Citi to the Finnish capital market helps to reinforce our message of commitment to the industry,” she concluded.
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Image: Alexey Fedorenko - stock.adobe.com 