Citi to Clear OTC Derivatives for Caisse de dépôt et placement du Québec

  Citi to Clear OTC Derivatives for Caisse de dépôt et placement du Québec

Business Wire

NEW YORK -- December 04, 2012

Citi has been designated by Caisse de dépôt et placement du Québec (Caisse) to
serve as one of its primary clearing agents for over-the-counter (OTC)
derivative transactions. Citi was selected after a significant and lengthy
review process in which the Caisse evaluated a number of providers across a
broad spectrum of factors to ensure key risk management, global access and
operational requirements were met.

“Citi is proud to be chosen as the clearing agent for the Caisse,” said Jerome
Kemp, Global Head of Futures and OTC Clearing. “We will continue to work with
clients in counterparty risk management as they prepare for mandatory
compliance with Canadian, US, and global regulations.”

As a signatory to the G-20 commitment in 2009, Canadian authorities are
committed to clearing standardized OTC derivative contracts through central
counterparties. To date, Citi has cleared more than two trillion dollars
notional in OTC derivatives.

“Sweeping new regulations requiring the clearing of OTC derivatives are
designed to provide a safer, more transparent market and we strongly support
this initiative,” said Christopher Perkins, Global Head of OTC Clearing. “We
will continue to meet the needs of our global clients as we help them navigate
the process and transition to a centrally cleared model.”

Citi views Futures and OTC clearing as a core offering within its franchise
and a key relationship service. As a leader in central clearing, Citi is
willing to connect clients to their choice of viable OTC clearing platforms
that have broad buy-side and sell-side support.

Citi, the leading global bank, has approximately 200 million customer accounts
and does business in more than 160 countries and jurisdictions. Citi provides
consumers, corporations, governments and institutions with a broad range of
financial products and services, including consumer banking and credit,
corporate and investment banking, securities brokerage, transaction services,
and wealth management.

Additional information may be found at | Twitter: @Citi |
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About Caisse de dépôt et placement du Québec

Caisse de dépôt et placement du Québec is a financial institution that manages
funds primarily for public and private pension and insurance plans. As at
December 31, 2011, it held CA$159 billion in net assets. As one of Canada's
leading institutional fund managers, the Caisse invests in major financial
markets, private equity and real estate. For more information:


Scott Helfman, +1 212-816-9241
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