Citi launches CitiFX Velocity platform

Abstract

Citi is launching CitiFX Velocity, its next generation FX eCommerce platform, as part of an aggressive push to increase its footprint among bank clients. The platform, developed by Citi subsidiary Lava Trading, enables users to customize orders and execution needs. Users can also view the full depth or top of book prices, and deal in any size. The new platform signals a continued push by Citi to expand its share of the bank segment following the high-profile appointments from UBS' bank sales team last year. CitiFX Velocity will replace CitiFXTrade. Clients have been migrated over to the new system since mid-January.