Citibank (China) Co., Ltd. (Citi China) announced that it has received its Type A Bond Settlement Agent license from the People’s Bank of China (PBOC) to act as a bond settlement agent in the China Interbank Bond Market (CIBM). Citi is the first and currently the only American bank to be granted such a license.
Christine Lam, President and Chief Executive Officer of Citi China, said: “Citi has been trading in the CIBM market for more than ten years, and is currently one of the most active market makers. With this newly added capacity to serve as a bond settlement agent and custodian, Citi China will continue to offer a best-in-class platform for our clients globally.”
“Combining our leading global emerging markets FX and rates trading franchise with our on-the-ground custody network in more than 60 markets, Citi will be able to deliver a complete front-to-back China fixed income solution through the life cycle of a trade, from research, sales and trading to custody, clearing and settlement,” commented Harry Peng, Head of Securities Services for Citi China.
Photo courtesy of CTBUH.