Citi Hong Kong deploys bots to enhance securities services

It will help reduce potential fail trades and buy-in costs early.

Citi has launched a solution utilizing bot technology to offer real-time processing for matching and settlement for their securities services clients in Hong Kong, the bank announced in a press release. Citi is the first sub-custodian bank in the city to offer this.

The service leverages Straight Through Processing (STP) and data solution designed in-house. The bot technology will pull data throughout the day from the clearing house and depositary system in Hong Kong, send them in real time to Citi’s custody system, and from there onwards to clients.

Using the solution, Citi’s clients will be able to save manual queries and reduce potential fail trades and buy-in costs by determining early if they need to activate any necessary actions including stock borrowing, according to announcement.