Citi Securities Services announced Nordnet AB (Nordnet), the leading pan-Nordic digital platform for savings and investments, as the first Swedish client to start lending through its innovative Citi Securities Lending Access platform. The solution will enable Nordnet to expand its already successful securities lending programme to new markets and new client segments.

Citi Securities Lending Access is a unique end-to-end solution that digitises and automates the entire securities lending lifecycle. Co-sponsored by Citi Ventures’ D10X programme, the solution combines Citi’s lending platform and fintech technology from Sharegain to offer clients lending programmes that are tailored to the needs of underlying individual investors as well as traditional lenders. The solution looks to democratise the securities lending industry by enabling access to a broader spectrum of investors through their existing banks, brokers or investment advisers. It also brings new pools of untapped and diversified securities to borrowers for the first time.

“Nordnet was one of the first online brokers in Sweden and has since expanded into a pan-Nordic leading digital platform for savings and investments,” commented Quincy Curry, Director of Securities Brokerage at Nordnet. “We are proud to add this collaborative initiative to our ever-growing list of market innovations for our customers.”

“Citi continues to embrace innovative ideas to deliver new services to our clients, “said Okan Pekin, Global Head of Securities Services at Citi. “By leveling the playing field, we anticipate this solution will help pave the way for future democratisation of securities lending.”

“We are excited to provide Nordnet with this innovative solution, which enables increased profitability and additional revenue stream for their end clients,” said Ola Mjorud, Nordic Head of Securities Services, at Citi.

With trading desks in five countries covering 75 lending markets and local expertise from over 60 proprietary custody branches, Citi Agency Securities Lending provides a differentiated service offering which combines markets-based experience with traditional banking oversight and structure.

Source: Citi