Citi launches Custody+ to accelerate asset servicing

More than 80% of total event volume now runs in real time.

Citi has launched Custody+, a suite of near- and real-time custody solutions as institutional investors adapt to shorter settlement cycles, continuous markets and increased use of AI.

The launch follows the completion of Citi’s US rollout of its Single Event Processing (SEP) technology, which enables real-time processing of asset servicing transactions. 

Citi said its custody business supports clients in more than 100 markets, including 62 proprietary markets.  

More than 80% of Citi’s total event volume is now processed in real time, whilst processing times for voluntary corporate actions in the US have fallen by up to 92%. 

Citi said 96% of US voluntary events are now processed within two hours.  

Custody+ includes real-time asset servicing, instant settlements, on-demand foreign exchange, cash and liquidity management, accelerated tax processing, market intelligence and data services. 

The platform also includes digital asset custody. Citi expects to launch the service later this year, starting with Bitcoin, and plans to provide traditional and digital asset custody through the same framework. 

Citi said its Services business invests more than $2b annually in its platform strategy, with Custody+ forming part of its effort to modernise its custody infrastructure.