Citi and UBS offer joint post-trade solution in APAC
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Citi and UBS offer joint post-trade solution in APAC 07 November 2012Hong Kong Reporter: Jenna Jones
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Citi and UBS have launched a combined service offering that provides a post-trade solution to broker-dealers in Asia Pacific.
The joint solution will provide middle office, back office, clearing, asset servicing and custody capabilities to broker dealers who are seeking to minimise cost, whilst retaining operational flexibility.
Andrew Murfin, regional head of UBS’s group operations, said: “Firms are increasingly having to review their operating options given the extreme pressure on cost bases and a regulatory environment that is highly challenging and rapidly evolving.
“UBS believes that this will drive a preference for buying expertise to service business rather than developing processes and technology in-house which require significant investment and lead to an unsustainable level of fixed costs,” added Murfin.
David Russell, regional head, Asia Pacific, securities and fund services, Citi, said: “Citi is pleased to be working with UBS on this market-leading solution for the region. The collaboration reinforces our commitment to our clients, by working with select partners to build operational infrastructures to better serve market participants.”
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