Welcome

Citi Sharing Post-Trade Data With Snowflake to Ease Settlement

Sept. 22, 2021, 2:55 PM

Citigroup Inc. will begin sharing some data with cloud-storage software maker Snowflake Inc., a move that will help the bank reduce costs and streamline some of its post-trade processes.

Any time a trade occurs, a whole host of players across markets have to reconcile that activity in their ledgers. With its latest tie-up, announced Wednesday, Citigroup is aiming to provide a real-time record of that data to all parties in a transaction, said Fiona Horsewill, head of data for Citigroup’s securities-services business.

“If you think about the number of entities that touch the transaction, they’re all keeping their own ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.