Citi enters Danish market with DCC services
Citi is to offer direct custody and clearing (DCC) services to clients in Denmark from the fourth quarter of this year.
The new offering will expand Citi’s proprietary DCC network to 63 markets globally and 36 markets across Emea.
Citi will partner with VP Securities, a provider of securities and investor services in Denmark. VP is the central securities registration agent in Denmark and an approved CSD under the Danish Securities Trading Act.
Reto Faber, head of DCC Emea at Citi, says the move supports the bank’s ambition to provide custody services as a direct participant in all of the major T2S markets.