Citigroup gets bond settlement agent licence in China

CitiGroup Building. Photo: Mint

Citigroup Inc’s China unit said on Tuesday that it had received the so-called “Type A” bond settlement agent license from China’s central bank, allowing it to add to its offering of sales, trading and research in the fixed-income business.

Citigroup is the first U.S.-based bank to be granted the Type A license to act as a bond settlement agent in China’s interbank bond market. Other global banks with such a license include Deutsche Bank AG and BNP Paribas SA.

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