Citi is launching a new foreign exchange e-commerce platform for professional traders, CitiFX Velocity.
The platform is extremely flexible, allowing traders to customise orders and execution needs, while providing access to the unparalleled depth and width of liquidity within Citi's FX price stream.
"Velocity is part of Citi's comprehensive offering to professional foreign exchange traders, and includes market analysis, insights, information to support trading decisions and strategies," said Anil Prasad, Citi's global head of foreign exchange and local markets. "We cover all stages of the transaction value chain: pre-trade, trade and post-trade."
CitiFX Velocity offers both exchange-based and one-click streaming execution, alongside advanced-order capabilities. Also, Citi supports an array of different technology vendors, allowing for easy straight-through processing.
The spot exchange model enables clients to trade against other client interest, with the option of viewing either the full depth or the top of the book, and deal in any size. Users can place limit, market, pegged and trailing-stop orders as close to the prevailing market as desirable. CitiFX Velocity users can also click and trade streaming spot, forward outrights or swaps.
"With CitiFX Velocity, using advanced order types to execute trades is simple," said Prasad. "Our weighted-average pricing allows clients to determine the approximate price for the exact fill size required. Our fully customizable 'time slice' feature allows clients to execute a 'time-weighted-average price' order, enabling them to control the market impact."