Citi’s Global Transaction Services business has started offering direct custody and clearing (DCC) services to clients investing in Panama. The move expands Citi’s proprietary DCC network to eight markets across Latin America.
The new offering is being backed by Citi’s regional service center in Tampa, Florida, to get consistent processing, standardize reporting, implement uniform technology and have the ability to resource reallocation to accommodate changes in capacity and volume. Global Transaction Services, a unit of Citi’s Institutional Clients Group, provides services, including integrated cash management, trade and securities as well as fund services.
Click here for the release from Business Wire.