Citigroup is set to implement a workflow and trading platform from Fidessa for its derivatives business globally.
The bank has contracted a fully-managed service from Fidessa, to support a new system from the vendor offering full order management and routing, low-latency trade execution, and risk management.
The implementation will come alongside Citigroup moving to BlueBox, Fidessa’s algorithmic trading engine, also for its derivatives business globally.
Jerome Kemp, a managing director and head of exchange traded derivatives at Citi, said the implementation was “game-changing” for the bank. The system’s “sophisticated, integrated workflow capabilities” and strong support were factors in the selection, he said.
The implementations will take place in a number of phases, commencing later this year as Citi connects its proprietary system to Fidessa host data centres in Europe, the US, Asia Pacific and Japan.