The Securities and Exchange Commission today charged a Citigroup business unit operating an alternative trading system (ATS) with failing to protect the confidential trading data of its subscribers.
The Securities and Futures Commission (SFC) has reprimanded Citigroup Global Markets Asia Limited (Citigroup) for its failure to ensure that certain securities orders executed through its algorithmic trading system between April 2009 and May 2010 would not cause undue price impact to the market in resolving the SFC's concerns over Citigroup's algorithmic trading system.
The Financial Industry Regulatory Authority (FINRA) and BATS Exchange1, Inc. announced today that they have jointly ordered Citigroup Global Markets Inc. to pay approximately $1.1 million in connection with short selling ahead of participating in five public offerings of securities, in violation of Rule 105 of Regulation M.
Interbank messaging network Swift has recruited a group of major banks to help develop its centralised KYC utility for the collection and distribution of standard information required by banks as part of their due diligence processes.
Barclays, The Royal Bank of Scotland and Citigroup have banned traders from using chat rooms in the wake of a series of scandals over manipulation of bank interest rates, according to the Financial Times.
Citi's Treasury and Trade Solutions (TTS) launches CitiDirect BESM Tablet, a new app for iPad providing visibility into important transactional and financial information, supporting decision-making and business management for treasury and finance executives.
Citi has launched two new efficiency applications for financial institutions that are available on mobile devices - CitiDirect BE Payment Advisor and Payments Directory Mobile.
Citi's Treasury and Trade Solutions announces product enhancement as part of a coordinated effort across its channel solutions to provide an "any channel" approach to integration.
Citi has created a new position charged with enabling and supporting the commercialization of clearing product capabilities for the world's developing currencies, including the Chinese renminbi, Brazilian real, Russian ruble, and Indian rupee.
Citi has enhanced its global web-based investment service, Citibank® Online Investments, offering additional account options for money market mutual funds.
© Finextra Research 2014