CITIGROUP GLOBAL MARKETS AND CITIBANK NORTH AMERICA TURN TO EQUILEND FOR FULL SERVICE SECURITIES FINANCE CAPABILITIES
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Citigroup selects EquiLend's complete suite of trading and operations services for processing securities finance transactions across three continents |
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All EquiLend counterparties benefit from additional liquidity being brought to the market |
New York, 2 October 2006 — Citigroup Global Capital Markets and Citibank North America today announced that they are using EquiLend, the industry leading securities finance platform, for its full suite of services in both trading and operations. Citigroup was looking for a global centralized solution to improve automation and has selected EquiLend to process both equities and fixed income across the U.S., Europe and Asia. As one of the foremost global securities finance businesses, Citigroup has existing relationships with many of the firms on the EquiLend platform. As such, the addition of Citigroup to EquiLend’s client roster will increase automation amongst counterparties and facilitate higher volume business.
"EquiLend has a terrific array of services and we are pleased to partner with them to help support the growth of our securities lending business," Tom Tesauro, Co-Head of Citigroup's Global Equity Finance. By scaling up its business, Citigroup is using the EquiLend solution to bring additional liquidity to the market.
"Working with Citigroup is an important milestone not just for EquiLend but for all of the clients on EquiLend who do business with Citigroup," says Brian Lamb, CEO of EquiLend. "Citigroup’s use of the EquiLend platform will enable it to do more business with existing counterparties, benefiting all EquiLend users."
For further information, contact:
US/UK Press Contact:
Michelle Lindenberger
+1 212 901 2224
michelle.lindenberger@equilend.com
About Citigroup
Citigroup's Corporate and Investment Banking group achieves the extraordinary for our clients around the world. No financial institution is more committed to understanding and advancing the goals of its clients - our diverse and talented staff in some 100 countries advises companies, governments, and institutional investors on the best way to realize their strategic objectives. We create solutions for and provide the broadest possible capital and market access to thousands of issuer and investor clients, and no institution better executes the increasingly complex payment and cash management solutions required in today's global economy. Core business lines under Citigroup Corporate and Investment Banking include Global Capital Markets, Global Banking and Global Transaction Services.
About EquiLend
EquiLend is a leading provider of trading services for the securities finance industry. With its robust suite of automated trading tools, EquiLend enables its clients to scale their businesses with great efficiency on a global basis in all securities finance markets. Used by borrowers and lenders throughout the world, the EquiLend platform automates formerly manual trading and post-trade processes. Using EquiLend's complete end-to-end services reduces the risk of potential errors and eliminates the need to maintain costly point-to-point connections while allowing firms to drive down unit costs. Firms can then free more resources to expand their business and grow trading volumes without increasing costs. This makes the EquiLend platform a cost-effective choice for all institutions, regardless of their size.
www.equilend.com
EquiLend LLC and EquiLend Europe Limited are subsidiaries of EquiLend Holdings LLC (collectively, "EquiLend"). EquiLend LLC is a member of the NASD and SIPC. EquiLend Europe Limited is authorized and regulated by the Financial Services Authority. All services offered by EquiLend are offered through EquiLend LLC and EquiLend Europe Limited. EquiLend and the EquiLend mark are protected in the United States and in countries throughout the world.
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