Citi and Maybank Securities have collaborated to provide securities lending services in Singapore.
Citi and Maybank Securities have joined hands to deliver securities lending to Singapore's retail market, according to a statement, allowing clients of the latter to earn fees paid by borrowers of securities to monetize what would otherwise be idle assets.
The collaboration will take advantage of the large ASEAN client base of Maybank Securities as well as Citi’s securities lending platform – Citi Securities Lending Access (CSLA) – which leverages the technology of Sharegain, digitizing the entire lifecycle and democratizing the securities lending market. Cooperation with Maybank Securities marks the introduction of CSLA in Asia.
«With CSLA, Citi is enabling a broader base of market participants to reap the benefits of securities lending,» said Eusebio Sanchez, head of execution services for Japan, Asia North and Australia and Asia South at Citi Securities Services. «In addition to benefiting our clients and their underlying customers, the solution gives borrowers access to new pools of untapped securities.»
