Citi Securities Services has launched its Citi Securities Lending Access platform in Sweden to bring new lending opportunities to the country.
The Citigroup unit announced Nordnet, a pan-Nordic digital platform for savings and investments, as the first Swedish client, to commence lending through the newly launched platform.
The Citi Securities Lending Access solution is expected to allow Nordnet to extend its securities lending programme to new markets as well as new client segments.
Nordnet securities brokerage director Quincy Curry said: “Nordnet was one of the first online brokers in Sweden and has since expanded into a pan-Nordic leading digital platform for savings and investments.
“We are proud to add this collaborative initiative to our ever-growing list of market innovations for our customers.”
Citi Securities Lending Access is an end-to-end solution designed to digitise and automate the complete securities lending lifecycle.
The solution integrates Citi’s lending platform with Sharegain’s fintech technology to offer clients financing programmes that are customised to the needs of both traditional lenders and underlying individual investors.
It is co-sponsored by Citi Ventures’ D10X programme.
By facilitating access to a wider range of investors through their current banks, brokers, or investment advisors, the solution seeks to democratise the securities lending sector.
Besides, Citi Securities Lending Access is expected to provide borrowers with pools of fresh and diverse securities for the first time.
Citi Securities Services global head Okan Pekin said: “Citi continues to embrace innovative ideas to deliver new services to our clients.
“By levelling the playing field, we anticipate this solution will help pave the way for future democratisation of securities lending.”