Global broker Citi has chosen technology provider TradingScreen’s TradeSmart as its new buy-side execution management system (EMS), replacing the existing LavaX system.
TradingScreen will also become the preferred front-end EMS technology provider for Citi’s institutional buy-side clients who access Lava order routing technology.
TradeSmart will be integrated with Citi’s Lava Technology suite of trading products, which includes the ColorBook smart order router and the LavaFlow ECN trading platform.
“Combining TradingScreen’s EMS technology with Citi’s existing Lava Technology is a win-win,” said Shane Swanson, head of transaction services at Lava, in a statement. “TradingScreen’s unique ASP (application service provider) deployment model will provide Citi’s institutional clients around the world with new services and functionalities, including rapid access to one of the deepest and most diverse pools of liquidity.”
Citi acquired the Lava products through its purchase of trading technology firm Lava Trading in July 2004.
The TradeSmart EMS has a customisable graphical user interface that enables the buy-side to trade a broad portfolio of financial instruments around the clock, on any market and with a wide range of counterparties.
Its ASP model grants users access to proprietary algorithmic trading strategies offered by the leading global brokers. It also incorporates modules that support functions such as basket trading, pre- and post-trade analysis, allocations, positions and profit-and-loss tracking.