Citi has launched a new algorithmic trading platform for institutional equity trading clients, after testing for over the past 18 months. The platform offers new execution logic and customization capabilities.
Citi algorithmic trading strategies incorporate smart routing technology along with the diverse liquidity and anti-gaming benefits of the Citi match crossing network.
The improvements for Citi algorithmic trading include: consistent behavior of strategies along with parameters and constraints; limit order model; symbol-specific trading decisions driven by historical and real-time analytics; optimal balancing and control across trading styles; and easy to install into new venues and manage allocations across venues based on Citi performance analysis.
Resiliency, transparency and control improvements include: full control and diagnostics of child orders along with analytics pertaining to the parent order; generate detailed informational alerts on strategy behavior and market movement; generate self monitoring alerts for exceptional conditions with multiple levels of severity; real-time information on strategy progress and performance; and enhanced stability, redundancy, and recovery framework.
The new Citi algorithmic trading platform was developed by a global team of quantitative analysts and technologists in New York, London and Asia. The technology has been running internally over the past 10 months and is currently being launched to external clients in the US, Europe, the Middle East, India, Japan, Hong Kong, Singapore, Taiwan and Korea.
The platform is region and asset class agnostic and has a flexible client configuration along with real-time analytics. The new modeling and order placement logic identify when and where to trade and, as well as, when not to trade.
Young Kang, global head of algorithmic products at Citi, said: “Citi is proud to bring the next generation of algorithmic trading to our institutional clients. Citi algorithmic trading capitalizes on Citi’s extensive global trading expertise, our world class technology, and unparalleled market liquidity. It is designed to bring together our global capabilities with the firm’s substantial regional knowledge.”