The Irish Stock Exchange (ISE) has admitted Citibank International Limited (Citi) as a General Clearing Member (GCM) firm, bringing its membership base to 47 firms across equities, fixed income and clearing & settlement services. Over 80% of member firms are now international.
Brian Healy, Director of Traded Markets, Development, Operations at the ISE, said “The ISE is very focused on expanding its international membership base to drive our Irish equity market share and deepen liquidity for the benefit of member firms, investors and corporate issuers.
The admission of Citi, which will provide general clearing services on the ISE, is important as it enhances competition and choice of GCM providers for participants on ISE Xetra, our electronic trading platform. This improves the ISE’s overall offering which in turn helps to attract more trading firms to the Irish market.”
Reto Faber, EMEA Head of Citi Direct Custody and Clearing added, “Citi is already acting as a general clearing member in the vast majority of European markets. With the addition of the Irish Stock Exchange, we see this membership as a very valuable extension of our service offering to support Citi’s clients and their requirements for comprehensive clearing and settlement services.”
