2014-04-30 11:20:03 -
Citi (NYSE: C) has begun providing Direct Custody and Clearing (DCC) services to clients in Bulgaria. This new offering expands Citi’s proprietary DCC network to 62 markets globally and 35 markets across EMEA.
Lee Waite, Citi's Global Head of DCC, said: “The opening of Bulgaria delivers a clear statement of intent about Citi’s commitment to the custody business both in CEE and in all of our existing markets. We’re excited to expand our network to 62 proprietary markets globally.”
Stefan Felstein, Citi Country Officer for Bulgaria, said: “We are pleased to expand our product offering with the launch of our Direct Custody and Clearing services in Bulgaria. Citi has a long-standing presence in Bulgaria and this new business compliments the existing
wide range of products that Citi Bulgaria delivers to customers on a daily basis. With the launch of Direct Custody and Clearing we look forward to facilitating new growth opportunities and a gateway to Bulgaria for both our international and local clients.”
DCC plays an integral role in the capital markets by providing clearing and settlement services for the trading and investing activities of broker dealers as well as offering local market sub-custody services to banks and global custodians around the world.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com : cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww ..
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