Citis Global Transaction Services business has been appointed by Mediobanca, the leading Italian investment bank, to provide all clearing and settlement functions including the support of the newly introduced Eurex Net Settlement Service in Germany.
Recently, Mediobanca became a direct trading member of Xetra, a Cash Equity platform of Deutsche Boerse, and Eurex, the German Derivatives Exchange. AS a result of these new ventures, Citi has been selected as General Clearing Member (GCM) at Eurex Clearing AG as well as the Settlement Agent at Clearstream Banking Frankfurt.
This is the first step taken by Mediobanca accessing international exchanges. This win by Citi is the first for the recently created GTS Derivatives Clearing Platform which is designated to Citi’s client’s activity.