Bloomberg said growing numbers of brokers and their clients are seeking out solutions to help trade in size electronically, by bringing traditionally high-touch services into an electronic environment.
Citi has launched an app to help investors get access to block prices on the Bloomberg Professional Service.
The app, called Total Touch Price, is an enhancement to Citi’s Total Touch block execution platform and will enable Bloomberg users to request bespoke prices for block orders, integrated into their workflow on the Professional Service.
Bloomberg said the launch represents the first time a broker has used the Bloomberg App Portal to deploy an application globally to its users.
The Total Touch platform offers electronic block liquidity in over 3,000 names across US stocks, exchange-traded funds and Latin American equities. It is already available via Bloomberg’s Execution Management System (EMSX), and the incorporation of the pricing tool in the Bloomberg App Portal will offer extended functionality to Citi clients.
Traders will be able to request a block price from Citi on demand and then initiate a trade using EMSX through a fully integrated user experience.
Sean Shanker, director of cash products at Citi, said: “Total Touch Price enhances the level of electronic communication with our clients in relation to pricing real time blocks on an actionable basis. It will elevate block trading to a whole new level.”