Citi Launches Exchange Membership and Direct Custody and Clearing Services in the Kingdom of Saudi Arabia

Citi today announced its membership with Tadawul, the Saudi Stock Exchange, and the expansion of its Direct Custody and Clearing (DCC) services to Saudi Arabia. The two developments enable Citi to offer its institutional investor clients a range of services in the country, from trading execution to clearing. 

Citi plays an integral role in the capital markets by providing clearing and settlement services for the trading and investing activities of broker dealers, and by offering local market sub-custody services to banks and global custodians around the world. Through its exchange memberships, Citi provides clients with access to securities trading in local markets.  

“Clients are looking to Citi to leverage its franchise breadth, global reach and local depth to deliver meaningful financial solutions,” said Murray Roos, Global Co-Head of Equities and Securities Services. “Citi has a unique set of capabilities to offer clients across the entire trade lifecycle: from pre-trade, to trade, to post trade, and today we can bring those capabilities to bear in Saudi Arabia.”

The addition of Saudi Arabia to Citi’s proprietary direct custody and clearing network expands its local presence to 63 markets globally, the largest in the world; including 38 markets across Europe, the Middle East and Africa (EMEA), the largest in the region.

“We are delighted to announce this strategically important addition to our growing network of markets globally,” said Reto Faber, EMEA Head of Direct Custody and Clearing at Citi. “We look forward to working with our local partners to help build the franchise and to represent our client interests in this important market as it continues to grow and attract more international investment.”