With over $1 trillion in assets and 6,500 employees across 40 countries, Citco is a leading provider of asset-servicing solutions. The firm's “Fund Services division offers ... middle-office and back-office services, including treasury and loan handling, daily NAV calculations and investor services, corporate and legal services, regulatory and risk reporting, as well as tax and financial reporting services,” according to a press release.
“Our focus at Citco has always been to provide our clients with the best technologies and services to make their lives easier. This is why we have decided to integrate S3’s market-standard BLACKLIGHT suite of data and technology,” said Albert Bauer, managing director at Citco Fund Services. “Integrating BLACKLIGHT into our existing Citco framework enables us to provide S3’s efficient insights to best execution, cost of margin and working capital, and to monitor liquidity alongside our new Æxeo Treasury platform. Our clients have asked for these nuanced analytics, which we can now offer via BLACKLIGHT with single-sign-on access and virtually no operational friction.”
Founded in 2003, S3 Partners enables clients to use real-time, independent financing data for better outcomes in their investment processes, risk management, counterparty relationships and investor relations.
The Citco and S3 agreement will allow Citco’s clients to utilize the benefits of BLACKLIGHT’s Financing Trade Cost Analytics (FinTCA) capabilities — to maximize trade, margin and collateral exposures, and efficiencies. The tools will launch via Citco’s Æxeo Treasury platform.
“We are thrilled that Citco has chosen to partner with us, and recognizes the value of our broker-neutral solutions,” said Bob Sloan, founder and managing partner of S3 Partners. “The Citco-S3 alliance — along with our distribution via Bloomberg, Nasdaq and Reuters — expands the reach of our technology and data to every player type and client segment.”