Citi has streamlined its partnerships with LSEG for data and analytics services, announcing a multi-year partnership with the company.
Under the new agreement, access to LSEG’s multi-asset data will be consolidated across divisions and governance practices standardised, which the firm says will increase efficiency across Citi’s business lines. Compliance and risk management frameworks will also benefit from the arrangement, LSEG says, through the use of its World-Check risk intelligence data.
Citi’s front-to-back workflows will be supported across its markets, investment banking, wealth, trading, risk finance and compliance arms, with the bank able to use LSEG’s end-to-end workflow solutions.
David Livingstone, chief client officer at Citi, commented, “LSEG’s comprehensive, trusted base of intelligence spans Citi’s franchise, strengthening how we design products, advise clients, and execute on their behalf.”
Earlier this year UBS tapped LSEG for data and analytics services in a bid to cut costs, making use of the company’s updated Workspace platform. Predecessor Eikon was sunset at the end of June.
READ MORE: UBS seeks to rein in escalating market data costs with LSEG deal
Citi’s quarterly technology and communication spend has remained fairly steady at US$2.3 billion over the last year, a segment that includes its data costs.
