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Treasury & Capital Markets
Citi wins nod to offer FMDB services in China
Approval allows US bank to support qualified foreign investors seeking to trade commodity futures in the country
The Asset 14 Sep 2023

Citi China has become the first US bank to receive approval from the Shanghai Futures Exchange and International Energy Exchange to act as a futures margin depository bank (FMDB) for qualified foreign investor clients to trade commodity futures in the country.

“With this newly added capacity to serve as a futures margin depository bank, Citi China is well positioned to offer a best-in-class platform for our clients globally and help them navigate and capitalize on these tremendous opportunities in the ongoing opening-up of the Chinese capital markets,” says Citi China chief executive officer Christine Lam.

The bank has continued to expand its product and service offerings in China, from trading and research to custody, clearing and services. It offers a complete end-to-end solution to international clients investing in the country, whether it’s through equity or fixed income, directly through QFII, RQFII, and CIBM Direct schemes, or via Hong Kong’s Stock Connect and Bond Connect programmes.

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