Citi turns to fintech to boost FCM interest income

Clearing giant is optimising its treasury function to combat low rates and CCP fee hikes

citi-canary-wharf

Citi is revamping the treasury function of its vast clearing unit, as it seeks to bolster interest income and combat rising fees levied on securities collateral charged by clearing houses.

The futures commission merchant (FCM) has tasked Mariam Rafi, its head of Americas over-the-counter clearing and foreign exchange prime brokerage, with a new financial resources management role to spearhead its efforts to optimise the large stockpile of cash and assets it holds as collateral on behalf of

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