Citi has extended its liquidity management network by adding notional pooling in Amsterdam, the Netherlands.
The aim is to give corporate and trading clients access to global hubs for liquidity management across six key money market centres, comprising of New York, London, Amsterdam, Singapore, Hong Kong, and Tokyo.
Commenting on the move, Amit Agarwal, the head of Europe, Middle-East and Africa (EMEA) liquidity management services at Citi’s treasury and trade solutions unit, said: “Our established pooling centres have experienced significant growth in the past several years, following the global financial crisis, and a number of our clients desired expansion of our programme to new markets.”
“The Netherlands was already a major treasury centre for multinationals, given its favourable tax and regulatory regime. In recent years, many emerging market companies have also set up treasury centres there, adding to the flows,” he added. “The introduction of the single euro payments area (SEPA) will also have a positive impact on centralisation, with likely consequent further growth in the Netherlands as a liquidity hub.”