Citi is looking to develop a frictionless solution for post-trade processes by combining its proprietary custody network with Snowflake’s data sharing and multi-party permissioning capabilities.
Securities services is big business for Citi. The bank’s Q3 results reveal securities services revenue of $692 million – up 10% from the same period last year, despite total markets and securities services revenue falling by 4% year-on-year.
Global revenues have been under pressure, remaining flat during the first half of this year, even though equity markets reached an historical high, according to the Coalition index for securities services.
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