Citi Launches Lending in Russian Securities
Citi said that it has launched lending services in Russian securities through its OpenLend platform, following similar launches in India and Malaysia to reinforce its presence in the emerging markets (EMs).
“The launch of lending in Russian securities is a key development in a large market with tremendous potential, and offers an alternative to repo deals which have been a popular type of operation in Russia for many years,” said Alexei Fedotov, securities and fund services head, Russia & CIS ZAO Citibank, Moscow.
The latest launch means that OpenLend is available in 74 markets globally as part of a suite of investment services delivered through Citi OpenInvestor, which provides institutional, alternative and wealth managers with middle office, fund services, custody, investing and financing solutions.
“Citi is committed to pioneer new markets for our clients,” said David Martocci, global head of securities finance, Citi Investor Services. “This continued expansion of our product offering leverages our deep on-the-ground expertise and enables us to present our clients with new and unique revenue opportunities.”