Citi will use SWIFT’s Value Added Network (VAN) solution to connect to T2S due to “highly reliable and robust connectivity.” Citi also mentioned Swift’s competitive pricing as reason for adding the solution.
Lee Waite, global head of direct custody and clearing, Citi Transaction Services, said: “We are confident that SWIFT is the right T2S connectivity solution for Citi, bringing unmatched benefits in terms of resilience, price and infrastructure reuse, and we look forward to working closely with SWIFT to implement its solution to meet our specific needs.
"Being able to rely on SWIFT for connectivity and to make our choice of VAN provider early on means that we can now focus on delivering the best possible service to our customers to enable them to capitalise on the opportunities T2S brings.”
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