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Tuesday April 26, 2011 - 19:30:21 GMT
Citi Continues to Expand CitiFX ProNew York, April 26, 2011 - Amid changes in the marketplace, Citi (NYSE: C) continues to expand the services of CitiFX Pro, its margin foreign exchange trading platform for small- to mid-sized institutions and experienced individual traders, and reaffirms its commitment to the margin FX market.
In 2011, CitiFX Pro plans to launch in other key European, Middle Eastern and Asian markets. In addition, CitiFX Pro plans to introduce a new FIX-API solution which will provide state-of-the art technology to sophisticated clients. This service will be available to clients in May 2011.
â€śWe have been extremely pleased with the response to CitiFX Pro among small- and mid-sized institutions as well as experienced individual traders,â€ť said Sanjay Madgavkar, Global Head of Margin Foreign Exchange Trading at Citi. â€śIn order to meet growing demand from this important segment of the margin FX market, we are increasing our investment in the product, particularly in relation to technology. We expect our new API solution will offer market-leading, low-latency liquidity to active FX traders.â€ť
Since its launch in 2008 in the United States, CitiFX Pro has expanded to new markets including the United Kingdom, Switzerland, Singapore and other Asian markets and has become one of the leading platforms in targeted segments of the FX market.
CitiFX Pro offers highly competitive spreads starting from 1.2 pips in the EURUSD for individual clients and provides its users access to both CitiFX Strategy and Technical reportsâ€”both of which consistently rank at the top of the market polls. Its platform was named Best Retail Platform by Profit & Loss magazine for the past two years running. Citi will soon be the only major bank offering Margin FX in the United States.
â€śWith CitiFX Pro, we believe we have the right platform to service this important client segmentâ€ť, said Jeff Feig, Citiâ€™s Global Head of G10 Foreign Exchange. â€śOur latest investment shows our commitment to this growing market and will ensure CitiFX Pro will offer its clients the highest standards of technology and liquidity.â€ť
About CitiFX Pro
CitiFX Pro is Citiâ€™s online forex trading platform for active individual and small institutional clients including commodity trading advisors, broker-dealers, money managers, and hedge funds. Additional information may be found at www.citifxpro.com About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through Citicorp and Citi Holdings, Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com or www.citi.com.
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