Citi Launches Next-Generation FX E-Commerce Platform in Asia Pacific

All Locations – Citi is launching a new global foreign exchange e-commerce platform for professional traders, CitiFX Velocity. The platform is extremely flexible, allowing traders to customize orders and execution needs, while providing access to the unparalleled depth and width of liquidity within Citi’s FX price stream. CitiFX Velocity will be available to clients globally, including Asia Pacific, and covers spot, forwards and options.

“This new product underlines Citi’s focus on providing our clients with innovative products in the FX space,” said Lung Nien-Lee, co-head of Corporate Sales and Structuring for Citi in Asia Pacific and Global Markets head for Singapore. “It also underlines our continued commitment to our clients across Asia Pacific to invest in the technology and infrastructure to meet their evolving needs in the Foreign Exchange markets.”

CitiFX 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. The platform covers all stages of the transaction value chain: pre-trade, trade and post-trade.

“With CitiFX Velocity, using advanced order types to execute trades is simple,” said Nadir Mahmud, Citi’s Asia Pacific head of foreign exchange and local markets. “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.”

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.

Citi is a leading FX provider across the globe. In Asia Pacific, Citi is widely recognized as one of the market leaders in the FX. In the last 12 months, Citi in Asia Pacific was voted best for overall FX services as voted by Asian corporations in the 2008 Asiamoney FX poll and best for overall FX services in China, Indonesia, Hong Kong, Korea, Malaysia, Singapore, Taiwan, Thailand and Vietnam.