Citi Selects Caplight to Price New Digital Depositary Receipts

Citi is introducing a Digital Depositary Receipt, or DDR, product as financial institutions expand their use of digital infrastructure for investment products. Reliable valuation is particularly important when products draw on private-market assets, where pricing is less frequent and transparent than in public markets. Caplight provides private-equity data and technology, giving Citi an external pricing source intended to strengthen valuation accuracy and investor confidence.

Citi has selected Caplight to provide independent pricing for the new DDR product, using the platform’s private-market data and valuation technology. The companies said the arrangement is designed to improve pricing transparency and assessment precision. They did not disclose the contract value, a launch date, pricing frequency or the number of assets to be covered, leaving the product’s initial scope and commercial rollout to be detailed later.