Citi teams with Saxo on FX platform
(21 November 2007 – USA) Citigroup is set to roll out a new online foreign exchange trading platform in conjunction with Saxo Bank.
Targeting both smaller institutional and retail traders, the platform, known as CitiFX Pro will begin operating firstly in the US followed by selected markets in 2008 once regulatory approval has been gained.
Citigroup global head of FX, Jeff Feig, said the platform was a natural extension of the bank’s existing global FX product suite and would be used to grow the bank’s client base.
CitiFX Pro will offer more than 150 currency crosses in a market with a daily turnover estimated to be northwards of US$3 trillion.
Citi described Saxo as a pioneer in the online investment trading market with a decade of knowledge and expertise in supporting the online trading needs of a global client base.
By joining forces with Saxo, Citi said it would be able to provide clients with a user friendly online trading platform and a tried and tested track record.
Citigroup global head of FX, Jeff Feig, said the platform was a natural extension of the bank’s existing global FX product suite and would be used to grow the bank’s client base.
CitiFX Pro will offer more than 150 currency crosses in a market with a daily turnover estimated to be northwards of US$3 trillion.
Citi described Saxo as a pioneer in the online investment trading market with a decade of knowledge and expertise in supporting the online trading needs of a global client base.
By joining forces with Saxo, Citi said it would be able to provide clients with a user friendly online trading platform and a tried and tested track record.
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