Citi’s Ninth e-for-Education Campaign Gets Underway
Posted by Colin Lambert. Last updated: September 8, 2021
The 2021 version of Citi’s e-for-education programme commenced Tuesday 7 September and will run until 29 October.
This year, the ninth time the bank has run the charity initiative, Citi’s FX, commodities, rates, futures, equities and global spread businesses will be donating to 13 non-profit organisations. Last year the bank raised $9.4 million from the campaign, bringing to to over $47 million since launch.
Under the campaign, Citi’s FX business will contribute $1 for every $1 million traded electronically, including all swaps executed through Citi Velocity, the bank’s single dealer platform, and some other swaps on other channels. $2 for every $1 million of emerging markets currencies traded will also be donated, and there are $5 “boosters” for algo, mobile, NDF and FX options volumes. $1 will also be donated for every $1 million traded electronically by its corporate clients on the platform, there are also $10 boosters available for this segment for algo, mobile, NDF, options and all transactions executed through its corporate portal, Pulse, and Velocity.
The commodities business will donate $2 per 100 ounces of gold, $5 per 5,000 ounces of silver, $5 per lot of base metals and oil products.
Rates donations are $1 per million notional traded electronically in North America and EMEA (this excludes packages and compression), while in Asia-Pacific, $5 per million in AUD and JPY rates products traded electronically will be donated. The futures, equities and global spread products’ businesses will contribute an unspecificed portion of business proceeds.
More details can be found here.