Citi Investor Services has launched Custody+, a suite of near- and real-time custody services, as the bank completes the US rollout of its Single Event Processing (SEP) technology, according to a Citi press release.
Citi says more than 80% of its total event volume is now processed in real time. In the US, SEP has reduced processing times for voluntary corporate actions by up to 92%, with 96% of US voluntary events processed in under two hours.
The offering also covers settlement, FX, cash and liquidity services. Citi says its custody infrastructure spans 62 proprietary markets.
Digital assets
Citi also says it expects to launch digital asset custody later this year, initially for Bitcoin. The service will use the bank’s digital asset architecture alongside its traditional custody capabilities.
“Custody+ is our response to their evolving needs,” said Amit Agarwal, Citi’s Head of Custody, describing the initiative as a move away from legacy infrastructure towards a more modular model.
