Citi is the First US Bank Approved to offer FMDB Services in China



China: Citibank(China) Co. Ltd. (“Citi China”) has received approval from the Shanghai Futures Exchange (SHFE) and International Energy Exchange (INE) to act as a Futures Margin Depository Bank(FMDB) for its Qualified Foreign Investor (QFI) clients to trade commodity futures on the SHFE and INE. Citi is the first American bank to receive this approval.

“The relaxed QFI regulation provides exciting new ways for global investors to participate in China’s capital markets. 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,” said Christine Lam, Chief Executive Officer of Citi China.

“The strength of our custody business lies in our ability to deliver local solutions and proactive engagement to expand offering as new products are enabled. Our in-depth understanding of the market, client-centric mindset, and heightened engagement with market infrastructures has helped us gain approvals from SHFE and INE, reinforcing Citi’s position as one of the top custodians in China,” Aditya Sharma, Citi’s Asia Pacific Head of Custody, commented.

Citi continues to expand its product offering to support the emerging needs of clients as opportunities emerge and has been building its product and service offerings in China. Citi has invested significantly in its Securities Services operations in Shanghai and plans to continue building up its local capabilities to meet clients’ increasing demand in China.

Citi has been a leading custodian services provider in China for Qualified Foreign Investors (QFI) and has more than 20 years of experience in China’s capital market cross-border custody services, having witnessed the opening up of China’s capital markets. Citi is one of the few banks that can offer a complete end-to-end solution to international investors investing in China, whether it’s through equity or fixed income, directly(QFII, RQFII, and CIBM direct scheme) or via Hong Kong(Stock Connect and Bond Connect), from trading and research to custody, clearing and settlement. Citi has the complete set of licenses and capabilities in China to enable these transactions on the ground.

With over US$27.8 triIIion1 of assets under custody and administration and the industry-leading proprietary network spanning over 63 markets, Citi Securities Services provides clients with extensive on-the-ground local market expertise, advanced processing technologies, customized data solutions, and a wide range of custody and fund services that can be tailored to meet clients’ needs.

About Citi

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management, and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions, and individuals with a broad range of financial products and services.

Additional information may be found at | Twitter: @Citi | Linkedln:| YouTube:


About Citi China

Citi first established an office in China on May 15, 1902, in Shanghai. In April 2007, Citi was among the first international banks to locally incorporate in China. Citi’s locally incorporated entity is known as Citibank(China) Co., Ltd., which is wholly owned by Citibank N.A. Today Citi is a leading international bank in China with a footprint in twelve cities across China.



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Edmund Shing, PhD

Global Chief Investment Officer
BNP Paribas Wealth Management

Edmund has over 29 years of experience in financial markets in a wide variety of positions, ranging from proprietary trading to portfolio manager in a number of financial institutions in London and Paris.  He previously held the role of Global Head of Equity and Derivative Strategy at BNP Paribas in London from 2015 to 2020, and has been Chief Investment Officer at BNP Paribas Wealth Management since November 2020.

Edmund is responsible for piloting our investment strategy and will continues to rollout out recommendations and themes with actionable advice that brings our expertise to our clients and support to our client-facing teams.  In this time of change, his expertise in following and anticipating markets is a true value added for both our customers and those at Wealth Management who serve them.

Edmund has a PhD in Cognitive and Computing Science from the University of Birmingham in the United Kingdom, and has done advanced studies in Knowledge-Based Systems and in Experimental Psychology.  He is an EFFAS-certified financial analyst. He has also authored the book “The Idle Investor” published by Harriman House in 2015, proposing 3 simple investment strategies that take only a few minutes to execute per month.

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