Due to new Dodd-Frank requirements in the US and EMIR in Europe, Citi has improved its OpenInvestor Investment services to include collateral services, reported Banking Technology. Citi insisted that this segregated system will help to decrease counterparty risk and work towards more efficient collateral services.
Citi’s move is a response to Dodd-Frank’s and EMIR’s new rules, which require the majority of OTC contracts to place collateral against the innate risk of these contracts.
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Chandresh Iyer, head of investor services at Citi, told Banking Technology, “These services draw upon our understanding of relevant business issues to streamline the technical and operational challenges of managing all types of collateral assets across multiple counterparties.”
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