Citi has launched a proprietary solution using bot technology to offer securities services clients in Hong Kong real-time processing for matching and settlement.
By leveraging straight-through processing, the solution will also allow clients to consistently view their trade status and activate stock borrowing in an efficient manner, rather than performing manual queries that have leeway for operational errors.
The use of bot technology extracts data from the clearinghouse and depositary system in Hong Kong, and transfers it in real time to Citi’s custody system.
Aashish Mishra, head of direct custody and clearing (DCC), Asia Pacific, Citi, commented: “This new capability will also feed into our data platform, and automatically benefit clients using our data and application programming interface offering.”
“Our data strategy seeks to improve real time integration with client systems and drive efficiency gains. Online data dissemination and reporting is a key part of that.”
Bryan Murphy, global head of sales, DCC and intermediaries client coverage at Citi, added: “We are very pleased to roll out this innovative service in Hong Kong, which is strategically one of the most important markets for both Citi securities services and its clients.”
