Citi says it has further enhanced its integrated custody programme with extended cut-off times for global custody accounts serviced from London, Luxembourg and New York.
The new cut-off times apply to settlement and cash instructions across Citi’s sub-custody network. Enhancements have been completed in 70+ markets globally and vary across each market, ranging from 15 minutes to more than 24 hours. The extended deadlines allow clients to gain additional processing time to consolidate instructions and enable them to send instructions around the clock regardless of their location.
Said Sanjiv Sawhney, Global Head of Custody and Fund Services: “These enhancements follow those previously announced for our clients in the Americas and highlight our determination to provide unparalleled access to global markets whilst enabling our clients to optimize their investments through improved settlements rates and cash flows.”