Citi’s Global Transaction Services (GTS) and Citi Global Markets (CGM) businesses have begun providing clients with an integrated electronic execution and custody application for most major equities markets.
Citi’s application combines electronic execution and smart order routing in an aim to reach pockets of liquidity and achieve best execution. It also uses GTS’s custody capabilities for post trade asset servicing.
“A dramatic shift has occurred in the European Equities Market,” says Curtis Brill, managing director, global head of electronic markets for securities and fund services at Citi. “The number of trading venues has increased, causing significant fragmentation of liquidity in the marketplace. Furthermore, new regulations, such as MIFID, have made it more difficult and costly for broker-dealers and asset managers to remain competitive while complying with them”.
“This application is meant for broker-dealers and asset managers seeking to overcome the challenges of market fragmentation in a cost-effective manner.”
The application will use Citi’s Lava Technology market access platform and Citi’s trade life-cycle order to trade to settlement automation platform, CitiConnectSM for Securities, with Citi’s award-winning proprietary custody branch network.
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