Central Securities Depository Regulation (CSDR)

As a participant in an European Economic Area (EEA) Central Securities Depository (CSD), we are required to, under the Central Securities Depository Regulation (CSDR), publicly disclose the levels of protection and costs associated with the different levels of segregation in respect of securities that we hold directly for clients with CSDs within the EEA.

In compliance with CSDR Article 38(6), we have provided details of the levels of protection associated with the different levels of segregation and these can be found at the following links:

• Art. 38(6) CSDR Participant Disclosure – CEP
• Art. 38(6) CSDR Participant Disclosure – CBNA
• Art. 38(6) CSDR Participant Disclosure – Citi Handlowy
• Art. 38(6) CSDR Participant Disclosure – JSC Commercial Bank
• Art. 38(6) CSDR Participant Disclosure – Citibank Nigeria Limited
• Art. 38(6) CSDR Participant Disclosure – Cititrust Colombia
• Art. 38(6) CSDR Participant Disclosure – Citibank Korea Inc

In addition, in compliance with CSDR Article 38(6), we have provided details of costs associated with the different levels of segregation and these can be found at the following links:

• Art. 38 CSDR Costs Disclosure – CEP
• Art. 38 CSDR Costs Disclosure – CBNA
• Art. 38(6) CSDR Costs Disclosure - Citi Handlowy
• Art. 38(6) CSDR Costs Disclosure - JSC Commercial Bank
• Art. 38(6) CSDR Costs Disclosure - Citibank Nigeria Limited
• Art. 38(6) CSDR Costs Disclosure - Cititrust Colombia
• Art. 38(6) CSDR Costs Disclosure - Citibank Korea Inc

Please note that updates to these documents will be published on this website.

 

European Markets Infrastructure Regulation (EMIR)

As a clearing member that provides clearing services through an EU central counterparty ("EU CCPs") we are required to, under the European Markets Infrastructure Regulation ("EMIR"), publically disclose the levels of protection and costs associated with the different types of accounts available at EU CCPS, and describe the risks associated with the different levels of segregation. In compliance with Article 39(7) of EMIR, we have provided details of the different account structures and these can be found at the following links:

• Bank Handlowy Account Structures for Central Counterparty Clearing
• Clearing Member Disclosure Document Relating to Clearing of Securities Transactions

In addition, and in compliance with Article 38(1) of EMIR, we have provided details of costs associated with clearing and other related services separately and these can be found at the following links:

• Bank Handlowy Pricing Guidelines for Central Counterparty Clearing
• Citibank Europe Plc Pricing Guidelines for Central Counterparty Clearing

Please note that we may need to update thse disclosure documents and when CCPs amend their arrangements and rules and such updates will be published on this website.

 

Financial Market Infrastructure Act (FMIA)

As a participant in a Swiss CSD who is subject to FMIA, Citibank N.A., London Branch is required to publicly announce the levels of protection and costs associated with the different levels of segregation.

In compliance with FMIA Article 73(4), we have provided details of the levels of protection associated with the different levels of segregation and these can be found at the following link: Article 73 FMIA Participant Disclosure.

In addition, in compliance with FMIA Article 73(4), we have provided details of costs associated with the different levels of segregation and these can be found at the following link: Article 73 FMIA Costs Disclosure.

 

Markets In Financial Instrument Directive II (MIFID II)

Certain Direct Custody and Clearing activity within the EU is subject to MIFID II. In accordance with our obligations we are required to publish
a disclosure that can be found here.

In addition, as an entity that offers General Clearing Member services, DCC are subject to additional disclosure requirements under Article 27
of RTS 6.

In compliance with Article 27.1 you will find a summary of our clearing conditions here.

In compliance with Article 27.2 you will find a summary of the possible clearing account structures, the respective levels of segregation and associated costs at link.

Other related terms and policy documents can be found at link.

Information for clients of Issuer Services - MIFID II and other important regulatory disclosure can be found at link.

 

Securities Services Sustainability Factors

As a MiFID II distributor, Citi Securities Services makes no statement as to the sustainability objectives of any fund. All information in this regard, both in terms of a funds sustainability objectives and periodic performance against the same, should be obtained directly from the fund manager or viewed in the relevant offering materials.

 

Shareholder Rights Directive II

Shareholder Rights Directive II is being introduced from 3 September 2020. Under Article 3(d) of the directive (Directive (EU) 2007/36/EC, as amended by Directive (EU) 2017/828, Citi is disclosing the standard fees charged by Direct Custody and Clearing, insofar as it acts as an “Intermediary” under SRD2, and relates to performance of its services in respect of shares which are both admitted to trading on a UK or EEA market and the issuer of which has its registered office in either the UK or an EEA Member State.

In compliance with SRD II, DCC’s standard fee charged can be found at the following link:

• Citi Direct Custody Cost Disclosure – Article 3(d) Shareholder Rights Directive 2
  
   

EU Bank Recovery and Resolution Directive

• EMESSW-BRRD-Reminder-final-July-22