Seoul/Hong Kong <cite>&mdash; </cite>Citi Securities Services today announced that it has been selected by NH Investment &amp; Securities Co., Ltd. (NHI&amp;S) as its global custody provider, as NHI&amp;S expands their business model to include trustee services for private investment funds in South Korea, an industry-first move in the country.
Founded in 1969, NHI&amp;S is one of South Korea&rsquo;s largest and most successful securities firms. Its recent decision to provide trustee services on offshore assets, makes it the first Korean broker-dealer to do so. Historically, these services were only offered by local Korean banks.
As part of this expansion, NHI&amp;S will first act as the trustee for private investment funds (with global markets exposure) specifically targeting Korean institutional clients and will later&nbsp; expand its capabilities to offer trustee services for funds designed for Korean retail investors.
&ldquo;As we grow and evolve our business to offer trustee services, we require a partner with the expertise and global network to support this new business activity,&rdquo; commented TaeYoung Ha, General Manager for Prime Brokerage Services at NHI&amp;S. &ldquo;Citi is a highly-respected securities services provider and partner in South Korea, and this, coupled with its global presence made it an ideal fit for us.&rdquo;
&ldquo;Citi has had a presence in South Korea since 1967, and we have invested heavily in providing a full suite of services to our central depository, public sector, banks, asset managers, insurance and securities firm clients,&rdquo; said Hee-Youn Lee, Citi Securities Services Head for South Korea. &ldquo;We are honored that NHI&amp;S, the first securities firm to provide trustee services on offshore assets in Korea, has chosen us to be their global custodian.&rdquo;
Citi currently provides NHI&amp;S with foreign exchange services through Citi Global Markets as well as cash management solutions through Citi&rsquo;s Trade and Treasury Solutions business. The addition of global custody will see Citi providing NHI&amp;S with a full range of seamlessly integrated solutions across multiple areas.
&ldquo;It is an honor to be selected by one of the leading securities firms in Korea as a service provider,&rdquo; said Aditya Sharma, Citi APAC Head of Custody for Securities Services. &ldquo;We have been able to leverage our own considerable experience as a Trustee to engage with NHI&amp;S and demonstrate a complete understanding of their needs and our ability to serve them as they expand into a new business area.&rdquo;
With approximately USD$27.1 trillion1 of assets under custody, administration and trust worldwide, and a leading proprietary network spanning more than 60 markets, Citi Securities Services provides cross-border support for clients with extensive on-the ground local market expertise, innovative post-trade technologies, customized data solutions, and a wide range of securities services solutions that can be tailored to meet clients&rsquo; needs.
<hr />
About NH Investments &amp; Securities
NH Investment &amp; Securities has been leading the Korean securities industry by performing a pivotal role in the growth and development of the Korean capital market. NH Investment &amp; Securities is an industry leader in terms of market share for domestic institution and is planning to increase its asset under trustee to 40 trillion won within the next 5 years.
Equipped with superior competitiveness across all business areas, NH Investment &amp; Securities has continued to provide creative financial service to customers. NH Investment &amp; Securities is preparing to take a big leap forward based on new synergies with the NongHyup Financial Group. By establishing 1) a sustainable growth business model which focuses on prioritizing customers, and 2) unrivaled institutional client business competitiveness, NH Investment &amp; Securities will secure the stature of being the No.1 Securities Firm in Korea.
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions, and individuals with a broad range of financial products and services.
Additional information may be found at <a href="http://www.citigroup.com/" target="_blank" rel="noopener" data-link-source="tiny">www.citigroup.com</a> | Twitter: <a href="https://twitter.com/Citi" target="_blank" rel="noopener" data-link-source="tiny">@Citi</a> | LinkedIn: <a href="http://www.linkedin.com/company/citi" target="_blank" rel="noopener" data-link-source="tiny">www.linkedin.com/company/citi</a> | YouTube: <a href="http://www.youtube.com/citi%7C" target="_blank" rel="noopener" data-link-source="tiny">www.youtube.com/citi</a> | Facebook: <a href="http://www.facebook.com/citi" target="_blank" rel="noopener" data-link-source="tiny">www.facebook.com/citi</a>
Media Contacts
Kyungshik Um: <a href="mailto:kyungshik.um@citi.com" data-link-source="tiny">kyungshik.um@citi.com</a>, +82 2-3455-2336
Arundathi Abyshekar: <a href="mailto:arundathi.abyshekar@citi.com" data-link-source="tiny">arundathi.abyshekar@citi.com</a>, +852 2868 7684
Taeyoung Ha: <a href="mailto:htyoung@nhqv.com" data-link-source="tiny">htyoung@nhqv.com</a>
<div>
<div id="ftn1"><hr />
1As of 31 March 2023.
</div>
</div>

Citi Appointed as Global Custody Provider for NH Investment and Securities Newly Launched Trustee Services

<ul>
<li>Uncertainties about the outlook for global growth driving change</li>
<li>Client experience and Digital delivery remains top priority</li>
<li>Regulatory environment remains top challenge for industry</li>
<li>Preference for outsourcing technology development&nbsp;</li>
</ul> HIGHLIGHTS

<ul>
<li>Uncertainties about the outlook for global growth driving change</li>
<li>Client experience and Digital delivery remains top priority</li>
<li>Regulatory environment remains top challenge for industry</li>
<li>Preference for outsourcing technology development&nbsp;</li>
</ul>

LONDON, HONG KONG, NEWYORK &ndash; New research from Citi Business Advisory Services, in partnership with Citi Securities Services, released today highlights <a target="_blank" name="_Hlk139926409" data-link-source="tiny"></a>the need to transform business and operating models amongst Wealth Managers as declining fees, low margins; and increasing cost of regulation and compliance continue to pressure the industry. The global study &ldquo;Disruption and Transformation in Wealth - Future-proofing Service and Operating Models&rdquo; found that 71% of participants surveyed identified the overall client experience as a top priority. This heightened focus on client experience and more specifically the digital client experience stems from evolving client expectations and the threat of digital disruptors.
Structural shifts including the emergence of new wealth, coupled with uncertainty in global markets and a fluid regulatory landscape, have pushed the wealth industry to address the fundamental challenges of maintaining and growing relationships with their end clients.
In order to effectively deliver an enhanced and digitally-enabled client experience, wealth managers and private banks should focus on transforming their operational, technology and service models, the report suggests. When asked about their preferred technology development strategy, an overwhelming 75% of survey respondents prefer to work with external parties. &nbsp;
The study also found that there is a clear distinction on which functions are more likely to be outsourced or considered for outsourcing.
<ul>
<li>46% of respondents prefer a hybrid model, upgrading their in-house systems with third-party tools</li>
<li><a target="_blank" name="_Hlk139926927" data-link-source="tiny"></a>66% of respondents either already outsource or are likely to consider outsourcing post trade services</li>
<li>The top three areas that respondents are unlikely to consider or outsource include most of the client-facing activities such as onboarding and KYC (56%), client services, reporting and data (50%), and compliance, regulatory and tax reporting (54%)</li>
</ul>
&ldquo;The emergence of new technologies, demands for a native digital client experience and the largest intergenerational wealth transfer in history pose significant challenges to the entire wealth industry,&rdquo; said Okan Pekin, Citi&rsquo;s Global Head of Securities Services. &ldquo;Our research outlines ways in which we can re-imagine service and operating models to deliver solutions to wealth managers to address these challenges.&rdquo;
&ldquo;Disruption and Transformation in Wealth - Future-proofing Service and Operating Models&rdquo; includes quantitative and qualitative data gathered from 23 interviews and almost 160 survey participants across retail, wealth, and private banking segments in APAC (40%), Europe (41%), and North America (17%). Collectively, these insights provide a rare, holistic view into the ongoing developments across the entire wealth spectrum.
Other key findings include:
<ul>
<li>The three most important areas of focus for technology and operations were identified as:
<ul style="list-style-type: circle;">
<li>Digital client experience (67% of respondents)</li>
<li>Trading and execution services (53%)</li>
<li>Global operating and client service models (39%)</li>
</ul>
</li>
<li>Almost half (43%) of survey participants ranked budget constraints as the top barrier to transforming their technology and operations</li>
</ul>
As we look to the future of wealth, the drive for scale and efficiency is accelerating consolidation across the entire industry.&nbsp; &nbsp;
&ldquo;Based on our study, it is clear that the wealth industry is at an inflection point, and it is critical that wealth management providers servicing the mass affluent to ultra-high net worth clients need to get their operating model right. Moving forward, we see trusted partnerships as key to success as consolidation continues,&rdquo; said Andrew Pitt, Head of Research and Content for Citi&rsquo;s Institutional Client Group. For more information on the study see: <a href="https://icg.citi.com/icghome/what-we-think/global-insights/insights/-disruption-and-transformation-in-wealth" target="_blank" rel="noopener" data-link-source="tiny">https://icg.citi.com/icghome/what-we-think/global-insights/insights/-disruption-and-transformation-in-wealth</a>
<hr />
About Citi Securities Services
With approximately US $27.1 trillion1 of assets under custody, administration and trust and an industry-leading proprietary network spanning over 60 markets, Citi Securities Services provides cross-border support for clients with extensive on-the-ground local market expertise, innovative post-trade technologies, customized data solutions and a wide range of securities services solutions that can be tailored to meet clients&rsquo; needs. About Citi Business Advisory Services
Citi&rsquo;s Business Advisory Services team (BAS) is a strategy consultancy within Citi Global Insights. BAS conducts its own primary research each year with investment managers overseeing $30-65 trillion to produce thought leadership around the trends reshaping financial institutions and the investment management industry. The scale and breadth of their interaction with the leadership of leading firms offers a unique perspective on how the industry is responding to the opportunities and challenges being created. About Citi Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
Additional information may be found at <a href="http://www.citigroup.com/" target="_blank" rel="noopener" data-link-source="tiny">www.citigroup.com</a>&nbsp;| Twitter:&nbsp;<a href="https://twitter.com/citi" target="_blank" rel="noopener" data-link-source="tiny">@Citi</a>&nbsp;| LinkedIn:&nbsp;<a href="http://www.linkedin.com/company/citi" target="_blank" rel="noopener" data-link-source="tiny">www.linkedin.com/company/citi</a>&nbsp;| YouTube:&nbsp;<a href="http://www.youtube.com/citi%7C" target="_blank" rel="noopener" data-link-source="tiny">www.youtube.com/citi</a>&nbsp;| Facebook:&nbsp;<a href="http://www.facebook.com/citi" target="_blank" rel="noopener" data-link-source="tiny">www.facebook.com/citi</a>&nbsp;
<div>
Media Contacts:
North America: Nina Das, <a href="mailto:nina.das@citi.com" data-link-source="tiny">nina.das@citi.com</a>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EMEA: Richard Bicknell, <a href="mailto:richard.bicknell@citi.com" data-link-source="tiny">richard.bicknell@citi.com</a> Asia Pacific: Arundathi Abyshekar, <a href="mailto:arundathi.abyshekar@citi.com" data-link-source="tiny">arundathi.abyshekar@citi.com</a> Latam: Alexandra Ravinet, <a href="mailto:alexandra.ravinet@citi.com" data-link-source="tiny">alexandra.ravinet@citi.com</a>
<hr align="left" size="1" width="33%" />
<div id="edn1">
1As of 31 March 2023.
</div>
</div>

<ul>
<li>Uncertainties about the outlook for global growth driving change</li>
<li>Client experience and Digital delivery remains top priority</li>
<li>Regulatory environment remains top challenge for industry</li>
<li>Preference for outsourcing technology development&nbsp;</li>
</ul> HIGHLIGHTS LONDON, HONG KONG, NEWYORK &ndash; New research from Citi Business Advisory Services, in partnership with Citi Securities Services, released today highlights <a target="_blank" name="_Hlk139926409" data-link-source="tiny"></a>the need to transform business and operating models amongst Wealth Managers as declining fees, low margins; and increasing cost of regulation and compliance continue to pressure the industry. The global study &ldquo;Disruption and Transformation in Wealth - Future-proofing Service and Operating Models&rdquo; found that 71% of participants surveyed identified the overall client experience as a top priority. This heightened focus on client experience and more specifically the digital client experience stems from evolving client expectations and the threat of digital disruptors.
Structural shifts including the emergence of new wealth, coupled with uncertainty in global markets and a fluid regulatory landscape, have pushed the wealth industry to address the fundamental challenges of maintaining and growing relationships with their end clients.
In order to effectively deliver an enhanced and digitally-enabled client experience, wealth managers and private banks should focus on transforming their operational, technology and service models, the report suggests. When asked about their preferred technology development strategy, an overwhelming 75% of survey respondents prefer to work with external parties. &nbsp;
The study also found that there is a clear distinction on which functions are more likely to be outsourced or considered for outsourcing.
<ul>
<li>46% of respondents prefer a hybrid model, upgrading their in-house systems with third-party tools</li>
<li><a target="_blank" name="_Hlk139926927" data-link-source="tiny"></a>66% of respondents either already outsource or are likely to consider outsourcing post trade services</li>
<li>The top three areas that respondents are unlikely to consider or outsource include most of the client-facing activities such as onboarding and KYC (56%), client services, reporting and data (50%), and compliance, regulatory and tax reporting (54%)</li>
</ul>
&ldquo;The emergence of new technologies, demands for a native digital client experience and the largest intergenerational wealth transfer in history pose significant challenges to the entire wealth industry,&rdquo; said Okan Pekin, Citi&rsquo;s Global Head of Securities Services. &ldquo;Our research outlines ways in which we can re-imagine service and operating models to deliver solutions to wealth managers to address these challenges.&rdquo;
&ldquo;Disruption and Transformation in Wealth - Future-proofing Service and Operating Models&rdquo; includes quantitative and qualitative data gathered from 23 interviews and almost 160 survey participants across retail, wealth, and private banking segments in APAC (40%), Europe (41%), and North America (17%). Collectively, these insights provide a rare, holistic view into the ongoing developments across the entire wealth spectrum.
Other key findings include:
<ul>
<li>The three most important areas of focus for technology and operations were identified as:
<ul style="list-style-type: circle;">
<li>Digital client experience (67% of respondents)</li>
<li>Trading and execution services (53%)</li>
<li>Global operating and client service models (39%)</li>
</ul>
</li>
<li>Almost half (43%) of survey participants ranked budget constraints as the top barrier to transforming their technology and operations</li>
</ul>
As we look to the future of wealth, the drive for scale and efficiency is accelerating consolidation across the entire industry.&nbsp; &nbsp;
&ldquo;Based on our study, it is clear that the wealth industry is at an inflection point, and it is critical that wealth management providers servicing the mass affluent to ultra-high net worth clients need to get their operating model right. Moving forward, we see trusted partnerships as key to success as consolidation continues,&rdquo; said Andrew Pitt, Head of Research and Content for Citi&rsquo;s Institutional Client Group. For more information on the study see: <a href="https://icg.citi.com/icghome/what-we-think/global-insights/insights/-disruption-and-transformation-in-wealth" target="_blank" rel="noopener" data-link-source="tiny">https://icg.citi.com/icghome/what-we-think/global-insights/insights/-disruption-and-transformation-in-wealth</a>
<hr />
About Citi Securities Services
With approximately US $27.1 trillion1 of assets under custody, administration and trust and an industry-leading proprietary network spanning over 60 markets, Citi Securities Services provides cross-border support for clients with extensive on-the-ground local market expertise, innovative post-trade technologies, customized data solutions and a wide range of securities services solutions that can be tailored to meet clients&rsquo; needs. About Citi Business Advisory Services
Citi&rsquo;s Business Advisory Services team (BAS) is a strategy consultancy within Citi Global Insights. BAS conducts its own primary research each year with investment managers overseeing $30-65 trillion to produce thought leadership around the trends reshaping financial institutions and the investment management industry. The scale and breadth of their interaction with the leadership of leading firms offers a unique perspective on how the industry is responding to the opportunities and challenges being created. About Citi Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
Additional information may be found at <a href="http://www.citigroup.com/" target="_blank" rel="noopener" data-link-source="tiny">www.citigroup.com</a>&nbsp;| Twitter:&nbsp;<a href="https://twitter.com/citi" target="_blank" rel="noopener" data-link-source="tiny">@Citi</a>&nbsp;| LinkedIn:&nbsp;<a href="http://www.linkedin.com/company/citi" target="_blank" rel="noopener" data-link-source="tiny">www.linkedin.com/company/citi</a>&nbsp;| YouTube:&nbsp;<a href="http://www.youtube.com/citi%7C" target="_blank" rel="noopener" data-link-source="tiny">www.youtube.com/citi</a>&nbsp;| Facebook:&nbsp;<a href="http://www.facebook.com/citi" target="_blank" rel="noopener" data-link-source="tiny">www.facebook.com/citi</a>&nbsp;
<div>
Media Contacts:
North America: Nina Das, <a href="mailto:nina.das@citi.com" data-link-source="tiny">nina.das@citi.com</a>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EMEA: Richard Bicknell, <a href="mailto:richard.bicknell@citi.com" data-link-source="tiny">richard.bicknell@citi.com</a> Asia Pacific: Arundathi Abyshekar, <a href="mailto:arundathi.abyshekar@citi.com" data-link-source="tiny">arundathi.abyshekar@citi.com</a> Latam: Alexandra Ravinet, <a href="mailto:alexandra.ravinet@citi.com" data-link-source="tiny">alexandra.ravinet@citi.com</a>
<hr align="left" size="1" width="33%" />
<div id="edn1">
1As of 31 March 2023.
</div>
</div>

Global Survey Shows Wealth Management Ecosystem at Inflection Point

<ul>
<li>77% of the market participants surveyed expect accelerated settlements to have a major impact on their business</li>
<li>80% of market participants expect a notable impact on their securities lending and borrowing business</li>
<li>Cash, funding and liquidity management remain greatest obstacle to achieving a shortened settlement cycle</li>
</ul>

LONDON, NEW YORK, HONG KONG &ndash; Citi today launched the third edition of its &ldquo;Securities Services Evolution&rdquo; whitepaper series, which shows the securities ecosystem faces challenging times ahead. The whitepaper finds that accelerated settlement is the single largest area of focus across all financial market infrastructures (FMIs) and market participants globally, with 77% of respondents expecting a major impact on their business.
&ldquo;Our research shows that the rapidly accelerating move to T+1 in major markets poses significant challenges to industry participants, leaving an urgent need to drive innovation, automation and efficiencies in global operating models,&rdquo; said Okan Pekin, Global Head of Securities Services at Citi.&nbsp;
Citi&rsquo;s whitepaper includes quantitative and qualitative data gathered from 12 FMIs and industry participants (fintech, taskforces, banks) and almost 500 market participants from banks, broker-dealers, asset managers, custodians and institutional investors around the world. Collectively, these insights continue to provide valuable insights into developments across the global securities market ecosystem.&nbsp;
While the impact of acceleration remains the primary focus, a consensus is also emerging as to how best to prepare for it. Participants are focusing on clients and counterparties in the first instance; followed by in-house platforms and processes; and evaluating staffing and location strategies. For example, 69% of those surveyed are focused on automating and standardizing client communications while 64% are looking to upgrade /replace technology platforms.
Other notable findings from this year&rsquo;s whitepaper include:&nbsp;
<ul>
<li>For the last 3 years, cash, funding and liquidity management have been cited as the greatest obstacle to achieving a shortened settlement cycle</li>
<li>80% of market participants expect a notable impact on their securities lending and borrowing business - one of the single most impacted area by the move to T+1</li>
<li>74% of our respondents engaging in Distributed Ledger Technology (DLT) and digital asset initiatives (increased from 47% last year) in a clear sign that DLT momentum continues to grow</li>
<li>38% of market participants are today live with digital asset offerings vs 22% for DLT</li>
<li>Growing belief across the industry that digital money (CBDCs, bank and non-bank issued stable coins) is maturing quickly &ndash; an overwhelming 87% see them as a viable means to support securities settlement (vs 72% last year)&nbsp;</li>
</ul>
&ldquo;As market infrastructures continue to evolve, it&rsquo;s increasingly important for industry participants to work in partnership to strengthen the stability of the overall ecosystem,&rdquo; said Matthew Bax, Global Head of Custody for Securities Services at Citi. &ldquo;Supporting innovation while maximizing global consistency of the client experience remains core to our Securities Services offering.&rdquo;
A copy of Securities Services Evolution 2003 is available here: &nbsp;<a href="http://citi.us/3Oy8aOv" target="_blank" rel="noopener" data-link-source="tiny">http://citi.us/3Oy8aOv</a>
<hr />
About Citi Securities Services
With approximately USD$27.1 trillion1 of assets under custody, administration and trust worldwide, and a leading proprietary network spanning more than 60 markets, Citi Securities Services provides cross-border support for clients with extensive on-the ground local market expertise, innovative post-trade technologies, customized data solutions, and a wide range of securities services solutions that can be tailored to meet clients&rsquo; needs.
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions, and individuals with a broad range of financial products and services.
Additional information may be found at&nbsp;<a href="http://www.citigroup.com/" target="_blank" rel="noopener" data-link-source="tiny">www.citigroup.com</a>&nbsp;| Twitter:&nbsp;<a href="https://twitter.com/citi" target="_blank" rel="noopener" data-link-source="tiny">@Citi</a>&nbsp;| LinkedIn:&nbsp;<a href="http://www.linkedin.com/company/citi" target="_blank" rel="noopener" data-link-source="tiny">www.linkedin.com/company/citi</a>&nbsp;| YouTube:&nbsp;<a href="http://www.youtube.com/citi%7C" target="_blank" rel="noopener" data-link-source="tiny">www.youtube.com/citi</a>&nbsp;| Facebook:&nbsp;<a href="http://www.facebook.com/citi" target="_blank" rel="noopener" data-link-source="tiny">www.facebook.com/citi</a>
Media Contact
Richard Bicknell: <a href="mailto:richard.bicknell@citi.com" data-link-source="tiny">richard.bicknell@citi.com</a>&nbsp;
<div><hr />
<div id="ftn1">
1As of 31 March 2023.
</div>
</div>

<ul>
<li>77% of the market participants surveyed expect accelerated settlements to have a major impact on their business</li>
<li>80% of market participants expect a notable impact on their securities lending and borrowing business</li>
<li>Cash, funding and liquidity management remain greatest obstacle to achieving a shortened settlement cycle</li>
</ul> LONDON, NEW YORK, HONG KONG &ndash; Citi today launched the third edition of its &ldquo;Securities Services Evolution&rdquo; whitepaper series, which shows the securities ecosystem faces challenging times ahead. The whitepaper finds that accelerated settlement is the single largest area of focus across all financial market infrastructures (FMIs) and market participants globally, with 77% of respondents expecting a major impact on their business.
&ldquo;Our research shows that the rapidly accelerating move to T+1 in major markets poses significant challenges to industry participants, leaving an urgent need to drive innovation, automation and efficiencies in global operating models,&rdquo; said Okan Pekin, Global Head of Securities Services at Citi.&nbsp;
Citi&rsquo;s whitepaper includes quantitative and qualitative data gathered from 12 FMIs and industry participants (fintech, taskforces, banks) and almost 500 market participants from banks, broker-dealers, asset managers, custodians and institutional investors around the world. Collectively, these insights continue to provide valuable insights into developments across the global securities market ecosystem.&nbsp;
While the impact of acceleration remains the primary focus, a consensus is also emerging as to how best to prepare for it. Participants are focusing on clients and counterparties in the first instance; followed by in-house platforms and processes; and evaluating staffing and location strategies. For example, 69% of those surveyed are focused on automating and standardizing client communications while 64% are looking to upgrade /replace technology platforms.
Other notable findings from this year&rsquo;s whitepaper include:&nbsp;
<ul>
<li>For the last 3 years, cash, funding and liquidity management have been cited as the greatest obstacle to achieving a shortened settlement cycle</li>
<li>80% of market participants expect a notable impact on their securities lending and borrowing business - one of the single most impacted area by the move to T+1</li>
<li>74% of our respondents engaging in Distributed Ledger Technology (DLT) and digital asset initiatives (increased from 47% last year) in a clear sign that DLT momentum continues to grow</li>
<li>38% of market participants are today live with digital asset offerings vs 22% for DLT</li>
<li>Growing belief across the industry that digital money (CBDCs, bank and non-bank issued stable coins) is maturing quickly &ndash; an overwhelming 87% see them as a viable means to support securities settlement (vs 72% last year)&nbsp;</li>
</ul>
&ldquo;As market infrastructures continue to evolve, it&rsquo;s increasingly important for industry participants to work in partnership to strengthen the stability of the overall ecosystem,&rdquo; said Matthew Bax, Global Head of Custody for Securities Services at Citi. &ldquo;Supporting innovation while maximizing global consistency of the client experience remains core to our Securities Services offering.&rdquo;
A copy of Securities Services Evolution 2003 is available here: &nbsp;<a href="http://citi.us/3Oy8aOv" target="_blank" rel="noopener" data-link-source="tiny">http://citi.us/3Oy8aOv</a>
<hr />
About Citi Securities Services
With approximately USD$27.1 trillion1 of assets under custody, administration and trust worldwide, and a leading proprietary network spanning more than 60 markets, Citi Securities Services provides cross-border support for clients with extensive on-the ground local market expertise, innovative post-trade technologies, customized data solutions, and a wide range of securities services solutions that can be tailored to meet clients&rsquo; needs.
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions, and individuals with a broad range of financial products and services.
Additional information may be found at&nbsp;<a href="http://www.citigroup.com/" target="_blank" rel="noopener" data-link-source="tiny">www.citigroup.com</a>&nbsp;| Twitter:&nbsp;<a href="https://twitter.com/citi" target="_blank" rel="noopener" data-link-source="tiny">@Citi</a>&nbsp;| LinkedIn:&nbsp;<a href="http://www.linkedin.com/company/citi" target="_blank" rel="noopener" data-link-source="tiny">www.linkedin.com/company/citi</a>&nbsp;| YouTube:&nbsp;<a href="http://www.youtube.com/citi%7C" target="_blank" rel="noopener" data-link-source="tiny">www.youtube.com/citi</a>&nbsp;| Facebook:&nbsp;<a href="http://www.facebook.com/citi" target="_blank" rel="noopener" data-link-source="tiny">www.facebook.com/citi</a>
Media Contact
Richard Bicknell: <a href="mailto:richard.bicknell@citi.com" data-link-source="tiny">richard.bicknell@citi.com</a>&nbsp;
<div><hr />
<div id="ftn1">
1As of 31 March 2023.
</div>
</div>

Citi Survey Shows Challenges Ahead from Accelerated Settlements 

News

SEC Filings

Perspectives

Securities Services

Securities Services supports our clients’ business by drawing on the strength of our unmatched global footprint, which provides them with access to local expertise and scalable solutions to support their ambitions.

Spacer

<div style="max-width: 876px;">
<h4 class="citigroup-h4">Securities Services supports our clients&rsquo; &nbsp;business by drawing on the strength of our unmatched global footprint, which provides them with access to local expertise and scalable solutions to support their ambitions.</h4>
<h4 class="citigroup-h4">&nbsp;</h4>
</div>

RichText

We provide solutions for asset managers, insurance companies, institutional investors, banks and broker dealers, and market infrastructures. 

GpaCard

GpaCardCarousel

Latest From Citi

GpaArticlesCarousel

GpaSubscribe

gpa-footer

GpaFooter

gpa-menu

GpaMenu

Citi, the leading global bank, serves more than 200 million customer accounts and does business in more than 160 countries and jurisdictions. Learn more today.

Securities Services

Securities Services supports our clients’ business by drawing on the strength of our unmatched global footprint, which provides them with access to local expertise and scalable solutions to support their ambitions.

Citi Survey Shows Challenges Ahead from Accelerated Settlements

Global Survey Shows Wealth Management Ecosystem at Inflection Point

Citi Appointed as Global Custody Provider for NH Investment and Securities Newly Launched Trustee Services

Sign up to receive the latest news from Citi.