BondEvalue Expands Network with Integration of Citi Securities Services
• Citi joins Northern Trust in offering asset servicing solutions for fractional bond exchange
Singapore, 25 March 2021 – BondEvalue has appointed Citi alongside Northern Trust to join the BondbloX Bond Exchange as an asset servicing provider for the underlying bonds, which trade as fractional assets (called “BondbloX”).
BondEvalue launched the world’s first fractional bond exchange in October 2020 after graduating from the Monetary Authority of Singapore’s Sandbox Express programme as a Recognized Market Operator. The BondbloX platform combines the power of distributed ledger technology (DLT) to enable enhanced transparency and liquidity, while making institutional grade investment opportunities available to new classes of investors.
Rahul Banerjee, founder of BondEvalue said: “We’re excited to welcome Citi in addition to Northern Trust as a strategic partner to the BondEvalue ecosystem. With these two powerhouses, we can reach all major players and jurisdictions in the bond market. Leveraging our partners’ joint innovation initiatives, this fractional bond exchange will transform the bond market. It provides global investors with the ability to trade bonds electronically and settle instantly.”
Chris Cox, Global Head of Data and Digitization and Strategic Projects, and EMEA Head of Securities Services at Citi said: “BondEvalue’s decision to appoint Citi as a custodian is a recognition of our investment in areas such as blockchain and DLT as well our commitment to continuous innovation. We look forward to working with BondEvalue along with Northern Trust to help develop this digital ecosystem.”
Justin Chapman, global head of Market Advocacy & Innovation Research at Northern Trust said: “Our partnership with BondEvalue has enabled access to a wider group of investors to the bond market. We are pleased that Citi has joined us as a strategic partner with BondEvalue to collaborate on this market development.”
BondEvalue is a Singapore based fintech operating the world’s first fractional bond exchange and has been changing fixed income markets since 2016. The founders have decades of leadership experience in debt markets, on both business and technology sides.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 22 U.S. states and Washington, D.C., and across 23 locations in Canada, Europe, the Middle East and the AsiaPacific region. As of December 31, 2020, Northern Trust had assets under custody/administration of US$14.5 trillion, and assets under management of US$1.4 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity
and innovation. Please visit our website or follow us on Twitter.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions
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