Citi Enhances its Velocity Platform with Segregation Transparency Initiative

Citi has announced the launch of its Client Segregation Transparency Initiative, providing clients access into the bank's collateral segregation processes for both futures and cleared OTC products through its Citi Velocity platform.

The new service will include information on the amount of futures and cleared OTC collateral Citi is holding at a given time, its custodial locations, as well as a breakdown of the current allocation of collateral investments. Citi also says it expects the offering will give it a first-mover advantage as client asset protection regulation continues to evolve.

"No other clearing member provides this level of disclosure to its clients. Our clients, amongst whom are many of the world's leading financial institutions and corporations, expect that the collateral they post will be appropriately safeguarded by their clearing member, and we at Citi take this responsibility very seriously," says Jerome Kemp, global head of futures and OTC clearing at Citi.