SimCorp has entered into a strategic alliance where Citi Securities Services will integrate post-trade custody data with SimCorp to offer a seamless front-to-back user experience for their mutual clients.
The collaboration brings together SimCorp’s technology and service solutions with Citi’s industry-leading proprietary custody network spanning over 60 markets to help clients navigate the challenge of data consolidation and consumption and enhance productivity.
“We are thrilled to work more closely with SimCorp in support of our mutual clients,” says Okan Pekin, Global Head of Citi Securities Services. “Our clients continually look to us to improve operational efficiencies, and this alliance will allow us to better serve our mutual clients and provide tangible benefits.”
“We have enjoyed a strong partnership with Citi in the past, and we are excited to provide our clients further interoperability,” says Georg Hetrodt, Chief Product Officer at SimCorp. “Enabling robust and consolidated access to operations and data is essential to our shared clients, and this strengthened collaboration will ensure that our clients have the best possible foundation, helping them to optimise their operating model and drive efficiency.”
The integration between SimCorp and Citi is an extension of Citi’s data services offered through their data and analytics platform, Citi VelocitySM Clarity. Citi Velocity Clarity allows clients to interact with and gain insights from their data, with prioritised workflows and analytics, through one single platform. Citi’s clients benefit from access to faster, up-to-date data including access to near-real-time post-trade data from across Citi’s broader network.
“We are delighted to form this alliance with SimCorp which supports Citi’s strategy of open architecture for data delivery to remove friction for clients,” says Fiona Horsewill, Global Head of Data for Citi Securities Services. “The integration of post-trade data into SimCorp Dimension® will allow clients who use SimCorp Dimension to easily view up-to-date statuses and investment information though their own lens and gain efficiency by accessing all of their information and workflows through the channel of their choice, bringing the local markets closer to them.”
Citi’s Clarity platform continues to expand its data integration and delivery framework, facilitating such initiatives alongside real-time API consumption and visualisations.
SimCorp’s centralised conduit with standardised integration to platforms, custodians, trading venues as well as SimCorp’s ecosystem of partners delivers the strongest possible turn-key solution to the market. This data network allows clients to access market participants and platforms using connectivity, messaging layers, data integration and warehousing, providing a consolidated front-to-back investment, operations, and accounting book of record – and ultimately delivering greater choice and interoperability to clients.
“At SimCorp, we realise that the core to our client’s business is access to quality and timely data. This partnership with Citi is key to our interoperability strategy and offering clients robust yet simplified access to the markets network of data that is pivotal to their processes” said Jaki Walsh, VP Operations and Accounting at SimCorp.
