Citi has launched its CFOX Smart Execution suite of tools for futures and options trading, transaction cost analysis (TCA) and order monitoring, as an addition to its Citi Futures and Options (CFOX) platform.
Citi’s aim was to offer institutional clients tools to increase transparency on how their orders are executed and provide enhanced execution quality and control, according to Paul Marks, global head of electronic trading products for futures, clearing, and collateral at Citi.
Marks added: “This will provide clients with the ability to see and amend in real time all of their futures and options order flow in a single platform, as well as track the performance of execution in real-time.”
Citi expects that the expanded capabilities of the suite of tools will aid direct client-supervision of algorithmic orders side-by-side with those entered via the CFOX Graphical User Interface, the FIX protocol, or third-party execution and order management systems.
Clients will be able to see the details of algorithmic orders in real-time, said Citi, while the TCA function allows cost breakdowns as trades are executed.
The Smart Execution suite includes 17 advanced synthetic order types, four benchmark algorithms, TCA and order monitor functions, as well as an inter-market low latency spread trader.