Citi has become the first digital custodian participant of BondbloX Bond Exchange (BBX), the world’s first fractional bond exchange using distributed ledger technology. BBX was launched in 2020 to simplify bond investing by allowing investors to track and trade bonds electronically. The partnership enables Citi’s clients that meet certain criteria to become BBX participants and…
Year: 2023
Citi gains FMDB approval in China
Citi China has received approval from the Shanghai Futures Exchange (SHFE) and International Energy Exchange (INE) to act as a futures margin depository bank (FMDB) for its QFI clients to trade commodity futures on the SHFE and INE. Citi says it is the first American bank to receive this approval.
SGSS chosen by Altarea
Société Générale Securities Services has been selected by Altarea Investment Managers as provider of trustee and recordkeeping services for its first retail fund (Société Civile de Placement Immobilier – SCPI). SGSS will also provide a bank guarantee specific to the SCPI as required by the regulator. Established in 2022 by Altarea Group and approved by…
Admina selects LemonEdge
LemonEdge, which provides a platform for managing private markets fund and portfolio accounting, has been selected by Admina Fund Services as its accounting solution. Guernsey-based Admina is a specialist administrator for closed ended funds.
Pirum links with FIS
Pirum, the UK-based fintech specialising in the securities finance sector, has launched a service for connectivity and interoperability to automate recalls and callback messages. FIS Securities Lending Processing Platform (formerly Loanet) users can now connect to their counterparties using Pirum’s post trade services or the FIS platform, providing full interoperability and network coverage across the…
Apex opens in Montreal
Apex is expanding its presence in Canada with the opening of a new office in Montreal to provide locally delivered services and French-language support to its clients in the province. Apex currently employs >300 people in Canada. In 2022 Apex acquired Prometa Fund Services, a Canada-based provider of fund services for >CAD28bn (USD21bn) AuA across…
J.P. Morgan expands with AccessFintech
AccessFintech, the data management network in which BNP Paribas and BNY Mellon have a stake, has partnered with J.P. Morgan’s securities services business to enable tax reclaims data set on Synergy, the AccessFintech multi bank network. J.P. Morgan becomes the first custodian to provide this solution to the market, increasing the efficiency of tracking tax…
New CEO for Waystone
Sanjiv Sawhney has been appointed global CEO of Waystone. He joins from Citi, where he has led global and regional investor services teams for the last 15 years, most recently as global head of client coverage, securities services. Earlier this year, Waystone abruptly parted company with Derek Delaney, CEO, Paul Cahill, COO, and Glen Magee,…
Gen II appoints group president
Gen II Fund Services, an independent private capital fund administrator with USD1trn AuA, has appointed Bob Caporale as group president. Caporale assumes this role after serving as head of corporate development for the past three years. Gen II is in the process of acquiring the private capital administration business of Crestbridge.
North Square moves to Ultimus
Ultimus Fund Solutions, a U.S.-based administrator, has been appointed by North Square Investments as fund administrator. As part of the mandate, North Square transitioned 12 mutual funds to Ultimus, which is now providing fund accounting, fund administration, transfer agency, shareholder servicing, distribution and compliance services.