The world’s first fractional bond exchange using the latest distributed ledger technology now has Citi Securities Services as its first digital depository participant.
BondbloX Bond Exchange, or BBX, was launched in 2020 and allows investors to track and trade bonds electronically and has been hailed as a milestone in a bond trading revolution. By allowing investors to trade full-sized fractions of bonds, it is also seen as bringing many of the advantages of the stock market to bonds.
Citi clients, subject to certain criteria, will be able to begin trading split and full bonds almost immediately on the BBX, with Citi providing transparent downstream settlement and custody services.
“Today’s announcement demonstrates our commitment to investing in the future of digital financial markets infrastructure by creating products and services to meet the current and future needs of our customers,” said Matthew Bax, global head of custody at Citi Securities Services. “We are committed to partnering with BondbloX in their journey to transform and simplify bond trading and investing.”
SELECTION OF PARTNERS
BBX participants, whether or not they are Citi clients, will benefit from Citi’s digital custodian services and benefit from broader access to the global bond market, enabling greater diversification of their investment portfolios and settlement immediate atomic at the time of execution of transactions.
“The decision to partner with Citi was easy, given their reputation as a leading securities services provider and our history of working together,” commented Dr. Rahul Banerjee, CEO and Co-Founder of BondbloX. “Digital custody is the next big step in bond market transformation, making bond markets more transparent, electronic and accessible to everyone. Now, bonds are more easily accessible to everyone.
Citi has been involved in BondbloX since 2021, when it was selected to act as custodian of the underlying bonds issued and traded on its exchange as fractional assets (called BondbloX).
“This proprietary digital custody technology is scalable and will enable us to provide settlement and custody services to clients investing in assets issued on permissioned blockchain networks and digital MFIs. It allows Citi to connect to newly authorized networks as they emerge and provide a fully consolidated custody service through a single operating model,” said Nadine Teychenne, head of digital assets for Citi Securities Services. “To develop this service, we leveraged our expertise in exchange-traded settlement and custody services which we now offer in approximately 70 MFIs worldwide. »
The world’s first fractional bond exchange using the latest distributed ledger technology now has Citi Securities Services as its first digital depository participant.
BondbloX Bond Exchange, or BBX, was launched in 2020 and allows investors to track and trade bonds electronically and has been hailed as a milestone in a bond trading revolution. By allowing investors to trade full-sized fractions of bonds, it is also seen as bringing many of the advantages of the stock market to bonds.
Citi clients, subject to certain criteria, will be able to begin trading split and full bonds almost immediately on the BBX, with Citi providing transparent downstream settlement and custody services.
“Today’s announcement demonstrates our commitment to investing in the future of digital financial markets infrastructure by creating products and services to meet the current and future needs of our customers,” said Matthew Bax, global head of custody at Citi Securities Services. “We are committed to partnering with BondbloX in their journey to transform and simplify bond trading and investing.”
SELECTION OF PARTNERS
BBX participants, whether or not they are Citi clients, will benefit from Citi’s digital custodian services and benefit from broader access to the global bond market, enabling greater diversification of their investment portfolios and settlement immediate atomic at the time of execution of transactions.
“The decision to partner with Citi was easy, given their reputation as a leading securities services provider and our history of working together,” commented Dr. Rahul Banerjee, CEO and Co-Founder of BondbloX. “Digital custody is the next big step in bond market transformation, making bond markets more transparent, electronic and accessible to everyone. Now, bonds are more easily accessible to everyone.
Citi has been involved in BondbloX since 2021, when it was selected to act as custodian of the underlying bonds issued and traded on its exchange as fractional assets (called BondbloX).
“This proprietary digital custody technology is scalable and will enable us to provide settlement and custody services to clients investing in assets issued on permissioned blockchain networks and digital MFIs. It allows Citi to connect to newly authorized networks as they emerge and provide a fully consolidated custody service through a single operating model,” said Nadine Teychenne, head of digital assets for Citi Securities Services. “To develop this service, we leveraged our expertise in exchange-traded settlement and custody services which we now offer in approximately 70 MFIs worldwide. »
