Nasdaq Selects Citi for Account Operator Services and Efficiencies in Post-Trade Infrastructure

London –   Nasdaq has selected Citi Investor Services for the provision of Account Operator Services, enabling its integrated access to relevant Financial Market Infrastructures (FMIs) while reaping efficiencies in the delivery of its post-trade services.

The mandate, applicable in the Nordics and Euroclear Bank, leverages Citi’s global network and technology infrastructure for Nasdaq’s post-trade processing and functions. With the outsourcing of these processes, Nasdaq has the flexibility to dedicate resources to client, transformation and innovation-focused priorities.

Instantly harmonized access to relevant FMIs, simplified operational requirements and moving from a fixed to a variable cost structure are key benefits that will immediately be availed to Nasdaq as they continue to provide solutions to clients worldwide.

Matthew Bax, Head of Sales and Client Services, Citi Investor Services, said, “Citi is the only bank in the Nordics to offer Account Operator services. Our digital-led solutions and market expertise are creating greater efficiencies for clients and enabling connectivity across the financial ecosystem. This mandate extends our long-standing collaboration with Nasdaq as we jointly shape the future of global capital markets.”

Nasdaq’s Roland Chai, President of Nasdaq Europe, commented, “Working with Citi was a natural step as we share a common desire to simplify post-trade processes by focusing on harmonized solutions and innovation. Citi was the preferred choice for Nasdaq as we sought to gain efficiencies across our post-trade activities.”