Fidessa will provide Citi with a global order management and distributed low-latency execution platform along with BlueBox, the vendor's integrated algorithmic trading engine.

The system will also deliver risk management functionality, comprehensive market data and a global order routing service.

The platform will be implemented in a number of phases, commencing later this year, using Fidessa's network of hosting centres across North America, Europe, Asia Pacific and Japan, and will be closely integrated with Citi's own proprietary internal back-office business systems.

Jerome Kemp, global head, exchange traded derivatives, Citi, says: "We went through an extensive evaluation and selection process, and chose Fidessa for their sophisticated, integrated workflow capabilities that operate across multiple asset classes, as well as for their reputation for offering the very highest levels of service and support."