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Citi Appointed Sole U.S. Custodian for Indeval´s Global Securities Program (SIC) Representing $39 Billion of Assets
[January 16, 2019]

Citi Appointed Sole U.S. Custodian for Indeval´s Global Securities Program (SIC) Representing $39 Billion of Assets


Citi has been appointed as custodian and tax services provider for the U.S. assets of Indeval's International Quotation System (SIC). The SIC program was created by the Mexican Stock Exchange, Bolsa Mexicana de Valores (BMV), and Indeval, the Mexican Central Securities Depository (CSD), to provide investors access to international securities and further develop the local capital market. The consolidation of the U.S. assets under Citi as the single provider successfully went live in December 2018. This new mandate builds on the existing relationship between Citibanamex and Indeval, and represents the majority of the assets listed on the SIC.

With over $21.3 trillion of assets under custody and administration, and the industry-leading proprietary network spanning over 60 markets, Citi's custody business provides clients with in-depth local market expertise, advanced processing technologies and a wide range of fund services that can be tailored to meet clients' needs.

In the Americas, in addition to its domestic custody in the U.S., Citi is the leading custody provider with a dominant local presence in Argentina, Brazil, Colombia, Mexico, Peru and Panama. Citi has built deep expertise in each country where it is trusted with the safekeeping and servicing its clients' assets.

Citi has been recognized in 2018 through a series of accolades awarded by multiple industry publications for its custody business in the Americas, including:

Top-rated provider overall in the single custodian category and the top-rated firm in the Americas, Global Investor/ ISF Global Custody Survey



  • Custodian of the Year, Latin America Custody Risk
  • Best Sub-Custodian Bank in Latin America and North America as well as "Country Winner" in Argentina, Colombia, Mexico (CitiBanamex), Peru and the United States, Global Finance

"Indeval demands the highest levels of operational efficiency and transparency. High performance is critical for our business, as we serve a large number of investors every day. Citi's local presence, commitment and long-term experience in the United States and Mexico will help us provide the highest standard of service that our customers have become accustomed to," said Roberto Gonzalez Barrera CEO of Indeval.

"We are proud to have been selected by Indeval to provide custody and tax services for U.S. securities" said Sanjiv Sawhney, Citi's Global Head of Custody and Fund Services. "It's a testament to the strong momentum of our custody and fund services platform across geographies. As our clients' requirement for excellence continues to increase, we will continue to invest in our platform to bring innovative solutions to the market."


"This mandate is the outcome of our commitment to developing tailored solutions, made possible by our ability to support regulatory requirements in both Mexico and the U.S., combined with the talent of our custody teams," said Jay Martin, North America Head of Citi's Custody and Fund Services.

About Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

About Indeval

Indeval is the Central Securities Depository (CSD) for the Mexican market. It provides clearing and settlement for all Mexican government and corporate issued bonds, all local equities listed at local exchanges and foreign securities listed at the International Quotation System or SIC, for its initials in Spanish. Indeval is the 9th largest CSD in the world in terms of value, processing more than 250 USD billion on a daily basis.

Indeval is part of Grupo Bolsa Mexicana de Valores, a fully listed company with more than 120 years of experience, which integrates a group of leading companies in Mexico, offering services in the capital markets, derivatives and debt, as well as post-trade services, information products and value added services.


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