Developed for use by central banks in emerging markets, CitiÆs domestic settlement service reduces settlement risk by simultaneously settling both sides of foreign exchange transactions. The aim of the service is to provide greater transparency and efficiency in foreign exchange trades for its clients, the bank said.
Our domestic settlement service is primarily a risk management tool, says Akash Rathke, managing director, regional head of bank services and public sector, Asia-Pacific in CitiÆs GTS division. It eliminates settlement risk, improves liquidity management, reduces operational costs and improves operational efficiency and effectiveness. Our solution aims to eliminate the timing mismatch in FX trade settlements...
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