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Citi Launches Futures and Options Smart Execution Tools

Citi has launched a suite of futures and options trading functions, a transaction cost analysis tool and order monitoring features on its Citi Futures and Options Execution (CFOX) platform.

The bank says integration of the tools, called Smart Execution, will aid direct client-supervision of algorithmic orders side-by-side with those entered via the CFOX GUI, the FIX protocol or third party execution and order management systems.

Clients will be able to see the details of algorithmic orders in real-time, while the TCA function will provide the cost breakdown as trades are executed, giving real-time feedback on execution quality.

“We are offering institutional clients the types of tools they have been requesting to improve upon their user experience, increasing transparency on how their orders are executed and providing enhanced execution quality and control,” says Paul Marks, global head of electronic trading products for futures, clearing and collateral, Citi. “This will provide clients with the ability to see and amend in real-time all of their futures and options order flow in a single platform, as well as track the performance of execution in real-time.”

CFOX is available to clients globally across Europe, North America and Asia and has access to 51 markets. The Smart Execution suite includes 17 advanced synthetic order types, four benchmark algorithms, TCA and order monitoring functions, as well as an inter-market low latency spread trader.

Jerome Kemp, global head of futures, clearing and collateral, adds: “While enhancing the overall client experience, these tools will give market participants the execution, command and control they desire in a transparent and compliant fashion.”

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