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Citi has been appointed by Banque de Luxembourg, one of Luxembourg’s most prominent financial institutions, to provide access to Shanghai-Hong Kong Stock Connect and custody services for A-shares acquired through the program. This appointment allows Banque de Luxembourg’s investor clients to benefit from Citi’s unique “SPSA+” solution which offers delivery versus payment (DVP) settlement with multiple brokers, thereby eliminating counterparty risk and reducing contingency risk for the investors.
Citi SPSA+ allows investors to appoint up to 20 brokers and avoid the pre-delivery of shares. Furthermore, it offers true RVP/DVP settlement, allowing both securities and cash to be settled simultaneously on T+0. This eliminates overnight counterparty risks with brokers as long...
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