Citco 2025 Q3 Middle Office Solutions Report

Treasury payment volumes edged up and collateral volumes also rose in Q3, but this was countered by a fall in futures and options activity across trade operations as managers faced concerns over future revenue growth, reduced volatility and geopolitical uncertainty.

With a long-awaited Federal Reserve rate cut to 4%-4.25% to factor in, alongside the usual decline in activity during the summer, most areas of middle office services were more muted in Q3.

These are some of the findings from Citco's Middle Office Solutions Report Q3 2025, which explores trends across outsourced middle office amongst our clients.