Citi has added a number of new features to its algorithmic and smart order routing (SOR) platform following collaboration with buy-side traders.
The firm's Self Directed Trading product suite has received a number of upgrades to improve execution quality, liquidity discovery tactics and trader workflow options.
As part of the new toolkit, the Citi's Open algorithmic trading strategy is now available as a stand-alone algorithm. It was originally a custom strategy and as intraday volume had grown more concentrated in the immediate aftermarket, clients have been paying more attention to the open.
Citi has also re-engineered its Close algorithm to trade large orders more intelligently as the US equity market has seen a pattern of increasing volume trading in the final 30 minutes of the day.
The service has also seen an upgrade of its global order entry ticket, with workflow improvements and the addition of a range of parameters such as improved sales controls for dark liquidity access and an opt in to display individual electronic orders.
Lastly, Citi have updated the logic of its smart order router to increase fill rates on marketable orders, in addition to developing liquidity capture performance on resting orders.