Citi
Service overview
Citi
works with clients to find solutions to their execution needs. This includes
improving algorithms’ performance by dissecting them and monitoring the liquidity
they interact with.
Innovative
spread capture models mean resting orders receive 78% spread capture on
average. Citi also has order placement logic that uses proprietary fair value
models, providing a concept of the ‘right price’ to trade at.
The
bank’s consultancy services team brings together expertise from multiple
disciplines, risk management, portfolio, program and cash trading transaction
cost analysis and quantitative research.
Research and analytics
Citi
constantly evaluates changing market structure landscapes and updates clients.
It has also seen growth in client initiated bespoke research.
The
firm often carries out custom reviews of clients’ execution processes, using
unique concepts of asset fair value when calculating appropriate unwind
strategies.
Citi
also offers ‘on desk’ technology that allows sales traders to monitor, interact
and advise on orders. Citi’s transaction cost analysis (TCA) tools, BECS,
provides pre-and post-trade examination of execution quality by measuring for
factors, including the ratio of passive/aggressive fills, reversion and venue
toxicity. Citi is also a key part of the ‘Open TCA’ initiative.
Customisation
Citi’s
electronic trading platform is global and modular, enabling enhancements in one
region to be quickly rolled out globally. Individual components of the
algorithmic products, such as order placement, dark interaction and trade
scheduling, can be configured according to specific client requirements. All
customisation work is measured post-delivery to ensure that objectives are
being met.
Client support
Citi
has dedicated FIX engineers, connectivity support staff and a dedicated quant
team.
Citi’s
team is geographically and technologically segregated from other business and
trading areas. The firm operates within confidentiality/information controls of
project-specific NDAs for bespoke analysis of client flow.