Citi has expanded its service offering for institutional clients of its US-based Futures Commission Merchant (FCM) carrying broker services for trading in the Brazilian futures market at B3S.A., the Brazil Stock Exchange and over-the-counter market.
Through its futures commission merchant (FCM), Citi provides an efficient, capital effective way for clients to access the Brazilian market.
The FCM relies on Citi's network of local affiliates throughout the clearing, settlement and loading of clients' positions.
Meanwhile, local brokerage Citigroup Global Markets Brasil CCTVM S.A. and local custodian Citibank DTVM S.A. are the members of B3 that will service in the administrative and operational management of futures contracts as well as managing clients’ collaterals.
Jerome Kemp, global head of futures, clearing and FXPB, said: "In providing solutions that facilitate cross-border trading, we underscore our commitment to meeting our clients’ clearing, settlement and administrative and operational management requirements across international markets.”
Kemp added: "Our clients place a high value on our ability to leverage our understanding of local market practices and procedures and to provide them with access to significant growth markets such as Brazil."
