MIAMI -- The fund services unit of Citigroup said it will begin testing a custody program that it says will shave a day off the time it takes to handle settlement of trades or process notices of corporate actions. 

The Network 3.0 pilot will begin in May, with six clients participating, said Marc Fryburg, director of Citi Transaction Services at the 2013 NICSA Annual Conference & Expo.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.