Asia turmoil seen stalling broker expansion

The recent turmoil in Asian emerging markets has led some broker-dealers to put expansion decisions on hold and thereby affected uptake of the Citi-UBS post-trade platform launched in Asia in late 2012, says a senior Citi executive.  The turbulence affecting markets such as India and Indonesia has resulted in a “temporary hiatus” for the entire region, says Lee Waite, global head of direct custody and clearing for Citi markets and securities services business. In the year to Feb…