The new division is the latest in a string of restructuring moves in recent months as Citi looks to streamline its businesses.
The investment bank has seen increased profits from the business following a programme of optimising and rationalising its prime brokerage balance sheet.
Credit Suisse stated it has seen increased profits following its programme of optimising and rationalising its prime brokerage balance sheet.
The DA platform processed more than four times the amount of trades per second than the latest DLT prototype developed by DTCC.
DTCC built a blockchain-based clearing and settlement platform that could process over 100 million US equities trades per day
Deutsche Bank has also named two new co-heads of prime finance, as it looks to renew business with hedge funds.
Deutsche Bank plans to double-down its efforts for its most profitable clients, expanding the hedge fund focus on its senior equities team.
The merger between the London Stock Exchange (LSE) and Deutsche Boerse could harm competition in equities clearing in Europe, according to the CEO of EuroCCP.