Citi Investor Services has launched Single Event Processing (SEP), a new technology that unifies the bank’s global and direct custody infrastructure. With this system, every asset servicing transaction can be processed in real time through a single, seamless flow. The firm claims in a press release that the launch marks a “significant step” in real-time asset servicing.
SEP will reduce duplication, handoffs, and reconciliation delays, as well as give clients faster access to funds. According to Citi, with the system, event creation takes minutes, payments are processed in less than five minutes, and transactions are moving closer to same day cut-off instruction deadlines. Overall, real-time asset servicing is expected to enable clients to make better-informed decisions and act with greater accuracy.
Amit Agarwal, head of custody at Citi Investor Services says, “The future of post-trade is instant.” The launch of SEP is a part of Citi’s efforts to transform its infrastructure and modernise its applications to adapt to evolving markets and new asset types.
In its early adoption phase, SEP was first introduced to select European markets and with international central securities depositories (ICSDs). Citi is now moving to a global roll-out starting with North America. The rest of the bank’s custody network is expected to be onboarded by 2026.
