Citibank Acquires Share of Monte Titoli.Business Editors NEW YORK--(BUSINESS WIRE)--Jan. 22, 2001 Citibank has strengthened its commitment to the Italian market and infrastructures with the acquisition of a 1.65% share in Monte Titoli, the Italian securities depositary DEPOSITARY, contracts. He with whom a deposit is confided or made. 2. It is, the essence of the contract of deposits that it should be gratuitous on the part 'of the depositary. 9 M. R. 470. , it was announced today. Giulio di Cerbo, Head of Sales and Account Management in the Financial Intermediaries Financial intermediaries institution that provide the market function of matching borrowers and lenders or traders. business of Citibank's Worldwide Securities Services said: "Italy represents one of the major European countries in which our key customers invest and trade securities. Citibank has been a leading provider of settlement and custodial services in Italy since 1986. The bank will continue its active role in providing support to the expansion of the Italian securities infrastructures and help drive changes that will achieve greater efficiency gains in clearing and settlement that will benefit all market participants. Our association with Monte Titoli is a reflection of our commitment to our global customers and their needs." Citibank Worldwide Securities Services (WWSS WWSS Worldwide Satellite Systems (US DoD contract vehicle) WWSS Warfare and Warfare Support System ) is a unit of Citigroup's Global Corporate and Investment Bank. WWSS serves global issuers, investors and intermediaries through the industry's largest proprietary network, spanning 52 countries. It currently provides securities services to more than 2,500 customers worldwide and has over $4 trillion in assets under custody. WWSS is the industry's premier custodian of cross-border assets, top ranked global clearer and recognized leader in depositary receipt depositary receipt A negotiable certificate that represents a company's publicly traded debt or equity. Depositary receipts are created when a company's shares or bonds are delivered to a depositary's custodian bank, which instructs the depositary to issue services, and agency and trust services. The local presence of WWSS, supported globally by Regional Service Centers, ensures clients of consistent transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. worldwide, proprietary control of clearing cycles and reduced risk in all cross-border securities transactions. Citigroup (NYSE NYSE See: New York Stock Exchange :C), the most global financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company, provides some 100 million consumers, corporations, governments and institutions in 101 countries with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and asset management. The 1998 merger of Citicorp and Travelers Group brought together such brand names as Citibank, Travelers, Salomon Smith Barney Smith Barney is a division of Citigroup Global Capital Markets Inc., a global, full-service financial firm, that provides brokerage, investment banking and asset management services to corporations, governments and individuals around the world. , Commercial Credit and Primerica under Citigroup's trademark red umbrella. Additional information can be found at: http://www.citi.com. Information contained herein is a matter of record only. It should not be construed as advice or a recommendation by Citibank. |
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