Citi releases online foreign exchange trading platform in Switzerland

image Citi has launched CitiFX Pro, its online foreign exchange trading platform for active individual and small institutional traders, in Switzerland. This follows the successful launch of the platform in the US and Hong Kong in 2008. CitiFX Pro will be rolled out in other European countries in the next few months.

Building upon Citi’s long history and market leadership in FX, CitiFX Pro provides active individual and small institutional traders margin accounts with access to competitive pricing and institutional-grade trading technology, including advanced order and execution functionality, liquidity in over 130 currency pairs and access to Citi’s award-winning research and FX market commentary. CitiFX Pro also offers FDIC coverage on all USD-denominated margin deposits (without limit), a unique offering in the marketplace. In addition, services specifically designed for the needs of small hedge funds and money managers are available.

Switzerland is the third largest centre for FX trading, according to the Bank for International Settlements, trailing only the UK and US. In its latest survey, the BIS estimates that roughly 60% of all FX trading in Switzerland is done electronically, among the highest ratios in the world.

“Switzerland has a high concentration of sophisticated FX traders ranging from private investors, family offices and money managers to small hedge funds and CTAs. We believe CitiFX Pro, with its package of state-of-the-art trading technology, competitive pricing and suite of products tailored for the small institutional market, will be a compelling proposition for FX traders,” said Sasha Serebrinsky, EMEA Manager, FX Margin Trading at Citi.

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