21 September 2017
visit www.avoka.com

Citi rebrands Liquifi ATS as CitiBLOC

11 October 2016  |  1501 views  |  0 Source: Citi

Citi has rebranded the Liquifi ATS into CitiBLOC, an alternative trading system designed for block execution.

The platform leverages conditional orders to seek block execution while minimizing the opportunity cost typically associated with trading blocks of stocks. It is designed to only accept auto firm-ups, and has a nearly 90% normalized firm-up rate.1

CitiBLOC accepts conditional buy and sell orders and sends an invitation to firm-up to each of the participants when there is a potential match. It has a unique rank, time matching priority. Rank is determined by a combination of firm-up rate and size of firm-up orders. A minimum size of 5,000 shares or a notional value of at least US$100,000 is required per order. The crossing engine is also compliant with the SEC’s tick size pilot as all executions are done at midpoint.

“CitiBLOC is designed to leverage the conditional order concept in very unique and innovative ways seamlessly finding block crossing opportunities while encouraging and rewarding the right behavior among clients,” said John Procopion, Head of CitiBLOC. “We have created a closed-end venue that will help streamline the process and establish a safe and secure trading environment.”

“Innovation is core to our success and we will continue to leverage our electronic capabilities to further expand our product breadth and reach,” said Young Kang, Americas Head of Electronic Cash Trading. “This is another major milestone for our platform and underscores our commitment to provide best execution and premium service to our client base.” 

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.temenos.comvisit www.vasco.comvisit www.capgemini.com

Who is commenting?

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
11322 views comments | 24 tweets | 41 linkedin
Equifax hack: Visa and Mastercard flag 200k compromised credit cardsEquifax hack: Visa and Mastercard flag 200...
10532 views comments | 6 tweets | 17 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
9274 views comments | 6 tweets | 3 linkedin
UAE banks pool cyber security dataUAE banks pool cyber security data
7808 views comments | 5 tweets | 4 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
7573 views comments | 18 tweets | 26 linkedin

Featured job

Competitive base + commission + benefits
Denmark, Finland, Iceland, Norway or Sweden

Find your next job