Citi Brings New Lending Opportunities to Sweden with Launch of Citi Securities Lending Access™

Rhea-AI Summary

Citi Securities Services has partnered with Nordnet AB, marking a significant milestone as the first Swedish client to utilize its Citi Securities Lending Access platform. This innovative solution aims to enhance Nordnet's securities lending program, allowing it to reach new markets and client segments. The platform automates the securities lending lifecycle, democratizing access for a broader range of investors. With $26.2 trillion in assets under custody, Citi focuses on supporting clients globally with tailored financial services. The collaboration is expected to boost profitability and diversify revenue streams for Nordnet.

Positive

• Citi Securities Services partners with Nordnet, expanding its client base.
• Citi Securities Lending Access automates the securities lending lifecycle, improving efficiency.
• Partnership enables Nordnet to access new markets and client segments, enhancing revenue potential.
• Citi manages $26.2 trillion in assets, showcasing its strength in the financial market.

Negative

• None.

LONDON--(BUSINESS WIRE)-- Today, Citi Securities Services announced Nordnet AB (Nordnet), the leading pan-Nordic digital platform for savings and investments, as the first Swedish client to start lending through its innovative Citi Securities Lending Access platform. The solution will enable Nordnet to expand its already successful securities lending programme to new markets and new client segments.

Citi Securities Lending Access is a unique end-to-end solution that digitises and automates the entire securities lending lifecycle. Co-sponsored by Citi Ventures' D10X programme, the solution combines Citi’s lending platform and fintech technology from Sharegain to offer clients lending programmes that are tailored to the needs of underlying individual investors as well as traditional lenders. The solution looks to democratise the securities lending industry by enabling access to a broader spectrum of investors through their existing banks, brokers or investment advisers. It also brings new pools of untapped and diversified securities to borrowers for the first time.

“Nordnet was one of the first online brokers in Sweden and has since expanded into a pan-Nordic leading digital platform for savings and investments,” commented Quincy Curry, Director of Securities Brokerage at Nordnet. “We are proud to add this collaborative initiative to our ever-growing list of market innovations for our customers.”

“Citi continues to embrace innovative ideas to deliver new services to our clients, “said Okan Pekin, Global Head of Securities Services at Citi. “By leveling the playing field, we anticipate this solution will help pave the way for future democratisation of securities lending.”

“We are excited to provide Nordnet with this innovative solution, which enables increased profitability and additional revenue stream for their end clients,” said Ola Mjorud, Nordic Head of Securities Services, at Citi.

With trading desks in five countries covering 75 lending markets and local expertise from over 60 proprietary custody branches, Citi Agency Securities Lending provides a differentiated service offering which combines markets-based experience with traditional banking oversight and structure.

About Citi Securities Services

With US $26.2 trillion¹ of assets under custody, administration and trust and an industry-leading proprietary network spanning over 60 markets, Citi Securities Services provides cross-border support for clients with extensive on-the-ground local market expertise, innovative post-trade technologies, customized data solutions and a wide range of securities services solutions that can be tailored to meet clients’ needs.

About Citi

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn:www.linkedin.com/company/citi

¹ As of 12/31/2022

View source version on businesswire.com: https://www.businesswire.com/news/home/20230328005789/en/

Citi Media Contacts:

London

Richard Bicknell

+44 (0) 20 7500 5003

richard.bicknell@citi.com

Stockholm

Anneli Sundstrom

+46 (0) 70 250 3591

anneli.sundstrom@citi.com

Source: Citi

FAQ

What is Citi's Securities Lending Access platform?

Citi's Securities Lending Access is a digital solution that automates the entire securities lending lifecycle, aimed at improving efficiency and access.

Who is the first Swedish client to use Citi's Securities Lending Access?

Nordnet AB is the first Swedish client to utilize Citi's Securities Lending Access platform.

How does the partnership with Nordnet benefit Citi?

The partnership allows Citi to expand its client base and enhance its securities lending offerings in new markets.

What impact will the new platform have on Nordnet's profitability?

The platform is expected to increase profitability and create additional revenue streams for Nordnet's clients.