Citi is now offering lending services for Russian securities through its OpenLend platform.
Alexei Fedotov, Securities and Fund Services Head, Russia & CIS ZAO Citibank, Moscow said the launch offers an alternative to repo transactions, which have been a popular in Russia for many years.
The bank also recently launched securities lending in both Malaysia and India as part of its efforts to expand its business in emerging markets.
Available through Citi OpenInvestor, an investment services solution, OpenLend is now available in 74 markets globally and delivers an open-architecture securities lending solution that leverages the bank's global presence.
David Martocci, global head of securities finance, Citi Investor Services, said: “Citi is committed to pioneer new markets for our clients. This continued expansion of our product offering, leverages our deep on-the-ground expertise and enables us to present our clients with new and unique revenue opportunities.”