New York-based investment bank CitiFX has announced consolidating its portfolio of electronic forex (eFX) trading platforms for corporate and professional investor clients into a new single dealer platform called Velocity 3.0.
The new platform delivers Citi’s eFX trading offering with CitiFX Pulse, Citi Velocity Trading, Citi Velocity Research and CitiFX Click. Citi also revealed that it is built on HTML5 technology.
Ala’a Saeed, CitiFX’s Global Head of Electronic Platforms, said:
Velocity 3.0 provides a complete client offering: clients can mix-and-match the best of what CitiFX has to offer, delivering eFX à la carte via a host of connectivity solutions. The new HTML architecture framework has boosted performance across the platform, allowing us to bring together our richest digital solution to date.
Furthermore, Velocity 3.0 works across all popular operating systems and can be accessed through any browser. Citi describes the new single dealer platform as “platform-independent technology.”
Citi noted that Velocity 3.0 is 71% faster with deal booking and 94% faster with order placement response compared with Citi’s classic platforms.
The global investment bank further explained in its official statement that consolidating its eFX trading offering into a single platform address issues such as of liquidity availability, operational resilience and transparency resulting from fragmentation of eFX services.
Jon Lofthouse, Global Head of Markets Technology at Citi, added:
Velocity 3.0 solves this problem, by delivering Citi’s best-in-class eFX offerings for clients via a single point of integration. The unified enterprise infrastructure and HTML 5 support high-performance streaming libraries that enhance the display of real-time data and the registration of one-click executions. By leveraging the latest in cloud technology and the use of Micro Front Ends, Velocity 3.0 is an agile, scalable solution allowing for rapid addition of new features and allows Citi to respond to client feedback promptly.
