Citi unveils live FX algo TCA tool

Paul Goldberg
Paul Goldberg

Citi will be including a new live TCA component in its CitiFX Velocity Dynamic Algo product, which it says is now in the latter stages of its roll out. According to the bank, the Live TCA tool will give clients greater visibility of order, benchmark and market information all in real time. This data can then be used to track order performance and optimise execution using the dynamic features available to the algo strategy. In addition to the live features, the tool will also provide a record of performance against historical trades and functionality to perform portfolio level analysis. “Based on our market research, one of our key objectives of the new algo product was to provide clients with greater flexibility and control over how and where their algo orders execute. To achieve this, we incorporated features that allow our clients to give their orders a more granular level of execution instruction and we made these parameters adjustable inflight – modifying the algo’s engine mode, benchmark discretion level, liquidity pool selection or market participation level, for example,” says Paul Goldberg, Algo Execution Desk Head at Citi. The initial launch of the new tool will be via the banks award-winning single dealer platform, Velocity, followed by a standalone version to support clients executing via other platforms.

Related Posts