Emerging Markets Rates and Currencies Handbook

Israel (ILS - Israeli New Shekel) Citi in Israel Citi boasts the largest presence of any foreign financial institution in Israel, and offers corporate and investment banking services to leading Israeli corporations / institutions and global corporations operating in Israel. Citi Israel has the largest Markets division of all foreign banks in Israel. Citi is a primary dealer for Israeli government bonds, a licensed market maker for Shekel currency trading and trades all Shekel derivative products. It is the natural home for international funds who wish to trade Shekel related products due to Citi’s custody offerings and its ability to source liquidity from both large local corporate and institutional clients as well as other international players. Citi offers its local clients a fully- fledged suite of products to service their needs including currency, fixed income, equity and commodities and their derivatives. Citi was one of the first banks to open a FinTech Innovation Lab in Tel Aviv with the aim to identify, create and develop opportunities for Fintech innovation, allowing Citi to bring cutting-edge tools to the financial markets. Citi Israel provides services to financial institutions, global organisations all of which are qualified corporate clients. Market Overview Free floating. Main Currency Pairs: USDILS; EURILS; EURUSD; GBPUSD; USDJPY. Central bank actively intervening in the market through banks/brokers. Main volumes are coming from corporates, institutional clients and mutual funds managers. Citi offers hedging solutions via Interest Rate Swaps as well as Government Bonds and XCCY transactions. Provides full liquidity up to 30 years, using the Telbor interest rate fixing. Citi is also a primary dealer in the Government Bond market, consistently maintaining #1 ranking in providing liquidity. 97