Citi is beefing up its Australian trade finance operations in a move that exploits its global trade finance role and caters to the needs of Basel III.Scott Southall, head of Australian and New Zealand global transaction services at Citi, said the bank aimed to lift its trade finance market share among the top 500 Australian corporations and key multinationals from six per cent to 12 per cent over three years.It plans to double the Australian staff dedicated to trade finance to around 20.Citi is a major player in global trade finance. The company claims to have "the world's largest network of international trade services processing sites" and a presence in 101 nations. Citi describes trade finance as "capital-friendly and Basel III friendly", because it is short-term (typically 30-90 days), "self-liquidating" (cash-flows to the bank typically continue until the debt is repaid), and is a transaction-based facility.