Pirum TradeConnect facilitates first trades
13 November 2025 UK
Image: Luba/stock.adobe.com
Citi has printed its first trades on Pirum TradeConnect, a securities finance pre-trade solution.
Pirum TradeConnect is now in daily use by Citi and other global financial institutions, with further Design Partner Group (DPG) clients in the final stages of implementation.
Its development was influenced by contributions from Citi and other DPG clients.
Philip Winter, head of securities lending EMEA at Citi, says: 鈥淲e are delighted to be the first trading desk to borrow securities through Pirum TradeConnect, a significant milestone that underscores Citi's commitment to pioneering innovation.
鈥淭his new product enhances our real-time counterparty connectivity and supports the continued growth of our prime business globally.鈥�
The objective of the DPG was to develop a new and future-proofed operating model for pre-trade that would increase choice, transparency, and resilience for industry participants.
Pirum TradeConnect enables industry participants to connect on a real-time basis, either bilaterally or via venues, via a single connection.
In addition to setting the foundation for a more standardised model for securities lending pre-trade, the DPG also set out to create a complete lifecycle technology stack that would enable up to 99.9 per cent straight-through processing, from pre-trade through post-trade and collateral management, all the way to regulatory reporting.
Ben Challice, CEO at Pirum, comments: 鈥淭he teams at Citi and our other DPG firms have been instrumental in achieving this milestone for the industry, from validating and bringing ideas, to stress testing concepts and prototypes, and now printing the first trades.
鈥淎s the next wave of clients gear up for their first trades, we invite other forward-thinking firms to join us in redefining the securities lending trade. To establish with us a more level securities lending playing field, with greater choice and security, for each and every industry participant.鈥�
Pirum TradeConnect is now in daily use by Citi and other global financial institutions, with further Design Partner Group (DPG) clients in the final stages of implementation.
Its development was influenced by contributions from Citi and other DPG clients.
Philip Winter, head of securities lending EMEA at Citi, says: 鈥淲e are delighted to be the first trading desk to borrow securities through Pirum TradeConnect, a significant milestone that underscores Citi's commitment to pioneering innovation.
鈥淭his new product enhances our real-time counterparty connectivity and supports the continued growth of our prime business globally.鈥�
The objective of the DPG was to develop a new and future-proofed operating model for pre-trade that would increase choice, transparency, and resilience for industry participants.
Pirum TradeConnect enables industry participants to connect on a real-time basis, either bilaterally or via venues, via a single connection.
In addition to setting the foundation for a more standardised model for securities lending pre-trade, the DPG also set out to create a complete lifecycle technology stack that would enable up to 99.9 per cent straight-through processing, from pre-trade through post-trade and collateral management, all the way to regulatory reporting.
Ben Challice, CEO at Pirum, comments: 鈥淭he teams at Citi and our other DPG firms have been instrumental in achieving this milestone for the industry, from validating and bringing ideas, to stress testing concepts and prototypes, and now printing the first trades.
鈥淎s the next wave of clients gear up for their first trades, we invite other forward-thinking firms to join us in redefining the securities lending trade. To establish with us a more level securities lending playing field, with greater choice and security, for each and every industry participant.鈥�
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