OTC client clearer of the year: Citi
Clearing businesses are under growing pressure, but Citi - so far - is finding ways to stay healthy, while keeping clients happy
"Most clearers have something horrible about them," says the operations head at one New York-based hedge fund. It could be hitches in trade reporting, mistaken calls for margin when there is already excess in the firm's account, inaccessible business heads, clunky onboarding or a failure to stay on top of regulatory changes. The specific complaints vary from client to client, but the story is basically the same – clearing members have blind spots and they make mistakes.
Citi makes fewer. The
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