The collaboration brings together SimCorp’s technology and service solutions with Citi’s industry-leading proprietary custody network spanning over 60 markets to help clients navigate the challenge of data consolidation and consumption and enhance productivity.
“We are thrilled to work more closely with SimCorp in support of our mutual clients,” said Okan Pekin, Global Head of Citi Securities Services. “Our clients continually look to us to improve operational efficiencies, and this alliance will allow us to better serve our mutual clients and provide tangible benefits.”
“We have enjoyed a strong partnership with Citi in the past, and we are excited to provide our clients further interoperability” said Georg Hetrodt, Chief Product Officer at SimCorp. “Enabling robust and consolidated access to operations and data is essential to our shared clients, and this strengthened collaboration will ensure that our clients have the best possible foundation, helping them to optimise their operating model and drive efficiency.”
The integration between SimCorp and Citi is an extension of Citi’s data services offered through their data and analytics platform, Citi VelocitySM Clarity. Citi Velocity Clarity allows clients to interact with and gain insights from their data, with prioritised workflows and analytics, through one single platform. Citi’s clients benefit from access to faster, up-to-date data including access to near-real-time post-trade data from across Citi’s broader network.
“We are delighted to form this alliance with SimCorp which supports Citi’s strategy of open architecture for data delivery to remove friction for clients” said Fiona Horsewill, Global Head of Data for Citi Securities Services. “The integration of post-trade data into SimCorp Dimension® will allow clients who use SimCorp Dimension to easily view up-to-date statuses and investment information though their own lens and gain efficiency by accessing all of their information and workflows through the channel of their choice, bringing the local markets closer to them.”
Citi’s Clarity platform continues to expand its data integration and delivery framework, facilitating such initiatives alongside real-time API consumption and visualisations.
SimCorp’s centralised conduit with standardised integration to platforms, custodians, trading venues as well as SimCorp’s ecosystem of partners delivers the strongest possible turn-key solution to the market. This data network allows clients to access market participants and platforms using connectivity, messaging layers, data integration and warehousing, providing a consolidated front-to-back investment, operations, and accounting book of record – and ultimately delivering greater choice and interoperability to clients.
“At SimCorp, we realise that the core to our client’s business is access to quality and timely data. This partnership with Citi is key to our interoperability strategy and offering clients robust yet simplified access to the markets network of data that is pivotal to their processes” said Jaki Walsh, VP Operations and Accounting at SimCorp.
SimCorp provides integrated, best-in-class, multi-asset investment management solutions to the world’s leading asset managers, fund managers, asset servicers, pension and insurance funds, wealth managers, central banks, sovereign wealth funds and treasury. Deployed on premise or in the cloud, SimCorp’s core solution, SimCorp Dimension®, alongside SimCorp Coric®, SimCorp Gain™ and SimCorp Sofia™ form a powerful and complete solution. Together with a range of managed services, they support the entire investment life cycle, based on a market-leading IBOR. SimCorp invests around 20% of its annual revenue in R&D, helping clients develop their business and stay ahead of ever-changing industry demands. Listed on Nasdaq Copenhagen, SimCorp is a global company, with regional offices across Europe, North America, and Asia Pacific. For more information, please visit www.simcorp.com.
With over $30 trillion1 of assets under custody and administration and the industry-leading proprietary network spanning over 60 markets, Citi Securities Services provides clients with extensive on-the ground local market expertise, innovative post-trade technologies, customised data solutions, and a wide range of custody and fund services that can be tailored to meet clients’ needs.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments, and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
Additional information may be found at http://www.citigroup.com | Twitter: @Citi | YouTube: http://www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: http://www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.
Citi: Rekha Jogia-Soni – +442075002843 – Rekha.Jogniasoni@citi.com
SimCorp: Tobias Brun-Falkencrone – +4529381384 – Tobias.Brun-Falkencrone@simcorp.com
1As of Q2 2021 AUC/A figure separately represents gross assets for which Citi provides Global Custody and sub-custodian services via its Direct Custody and Clearing business and includes Issuer Services. Citi previously reported AUC/A numbers on a net basis, therefore discounting assets serviced by both businesses.