OREANDA-NEWS. March 29, 2012. Citi's Global Transaction Services ("GTS") announced the launch of its new Latin America Trade Desk in Asia based in Shanghai, China. The Latin America Trade Desk will serve as a link for Latin American clients to Asia, reported the press-centre of Citibank.

The specific needs of importers and exporters, as well as market practices for trading between these two unique regions are addressed by a complete and tailored suite of trade services and finance solutions, including:

Access to Citi's wide global trade network and local expertise through its proprietary branch network in over 40 countries in Asia and Latin America.

Alternatives to resolve domestic funding constraints through a single window operational gateway which will boast over 3,000 correspondent bank relationships in Asia.

Unique operational efficiencies and financial benefits to facilitate and support the increasing trade flows as their businesses expands into the other region

Integrated solutions that use its state-of-the-art technology platforms, local market trade experts and round-the-clock processing centers in Latin America and Asia to optimize cross-border trade settlement processes, reduce operational costs, and mitigate the risks associated with trade transactions on the other side of the world.

Alan Lin, Head of GTS China, said, "Citi has a unique global presence and network, that is allowing us to not only help Chinese companies to expand globally, but also to facilitate linkages between companies in other regions of the world and China. We have a large and dynamic trade finance business in China and Asia, and we are pleased to be supporting companies in Latin America that want to do more business here. We are particularly happy to be basing this Latin America desk in Shanghai, one of the world's key centers of finance and commerce."

"In Latin America, Citi is among the first to launch solutions specific to the market needs of both Latin America and Asia. Our knowledge and understanding of the fast-paced changes in Emerging Markets to Emerging Markets flows allow us to develop best-in-class solutions and value-added propositions that best address these market trends and the needs of both sides of the trade transaction," said Renato Faria, GTS Trade Head for Latin America & Mexico.

Global Transaction Services, a division of Citi's Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 95 countries, Citi's Global Transaction Services supports over 65,000 clients. As of the fourth quarter of 2011, it held on average USD 368 billion in liability balances and USD 12.5 trillion in assets under custody.