Citi has announced that it is providing direct custody and clearing services to its clients in the Ukraine.
This is the eighth new market Citi has opened in two years taking its proprietary network to 52 markets. Citi currently serves 27 markets in Europe, the Middle East and Africa.
Direct custodians provide services such as equity and fixed income securities settlements, safekeeping, pre-matching, registration, corporate actions, income collection, proxy services, foreign ownership monitoring and disclosure services, tax relief at source, market claims, cash management, foreign exchange, reporting, market expertise and information services to clients.
Nadir Shaikh, chairman of Citibank Ukraine, added: Ukraine is one of the most rapidly developing economies among the countries of the former Soviet Union and we see many diversity opportunities for growth on this market.