OpenCollateral provides asset managers with automated collateral position reconciliation via SWIFT.
The new capability of OpenCollateral will streamline collateral management by creating standardization across funds and custodians, requiring fewer collateral accounts and reducing the number of collateral instructions.
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Rajen Shah, global head of collateral management at Citi Transaction Services said that with OpenCollateral, their clients will be able to directly manage collateral from their existing custody accounts.
"Receiving this data directly from the custodian avoids the need for asset managers to be involved in instructing every collateral movement," he said.
He further added, "Our early-to-market solution provides better efficiency for investors by enabling them to concentrate all their unencumbered assets within their principal custody accounts."
Additionally, apart from its collateral management services, Citi will also offer a full suite of investor solutions through Citi OpenInvestor.
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