Citi Launches Agency Lending in Greece and Poland
Citigroup’s Global Transaction Services business has announced that Citi Securities Finance will now be offering agency lending services in Greece and Poland. Specifically, Citi will now be providing securities lending for Greek equities and Polish bonds and equities.
As part of the due diligence, Citi worked closely with Greek and Polish legal and tax specialists, as it was imperative to create efficient and easy access to these two new markets for foreign borrowers and lenders. Securities lending, which is the temporary transfer of securities on a collateralised basis, allows portfolio managers that lend securities to earn a fee while allowing the borrower to execute their trading strategies. The addition of Greece and Poland to Citi’s lending network will open both countries up to new sources of liquidity and support the development of their local capital markets.
Tim Douglas, global head of securities finance, Citi, said: “Our continued expansion of our securities lending offering underscores our leadership and ability to leverage our global presence and local market expertise in order to benefit our clients around the world.”