Citi gains velocity in Asia-Pacific

Abstract

Daily trading volumes on CitiFX Velocity have reached $2 billion in the Asia-Pacific region within the first two months of activity, the bank told FX Week. The new FX electronic commerce platform was launched in early March and rolled out in Asia-Pacific a fortnight later. The platform is viewed by the bank as a prime way to increase its influence with institutional clients, which was already a growth area for the bank in Asia. Another area of development Paulus Mok, Hong Kong-based head of markets for China, expects in the region is algorithmic trading.