Citi Rolls Out New Suite Of Intelligent Options Algos

Citi today announced that it has added new algorithmic trading functionality for U.S. equity options to its suite of advanced electronic trading strategies. The intelligent option algorithmic functionality expands upon Citi’s existing Option DMA and Option Algo Order Types. All of these strategies utilize Citi’s proprietary smart routing logic, which provides clients with unique liquidity and price improvement opportunities while avoiding information leakage.

“Providing traders with speed, liquidity and the desired degree of exposure is essential in today’s rapidly evolving market,” said Kevin Murphy, Head of U.S. Option Electronic Execution. “Citi continues to be the leader in option execution quality, leaning on our deep knowledge of market structure and extensive experience in the equity and option industries.”

The new options smart algorithmic suite includes several dynamic strategies for increased order execution flexibility and improved execution performance. In addition to the TWAP and SmartPeg strategies, Citi is adding equity options to its flagship algorithm with multiple levels of aggression.

“As the option market continues to adopt algorithmic trading, we will continue to leverage all of our electronic capabilities to increase the level of functionality and premium service we provide,” said Vivek Arora, Head of US Algorithmic Product Development. “The enhanced algorithm functionality for options is another milestone in delivering additional levels of sophistication and flexibility to our buy-side customers.”

Earlier this year, Citi added pairs trading functionality for equity securities to its platform which allows traders to execute market neutral strategies to help leverage changing market conditions by simultaneously selling and buying highly correlated securities. Citi has also expanded its algorithmic platform to multiple non-U.S. destinations including Mexico, Brazil and Canada.

Before buying or selling options you should obtain and review the current version of the Options Clearing Corporation booklet, Characteristics and Risks of Standardized Options. A copy of the booklet can be obtained upon request from Citigroup Global Markets Inc., 390 Greenwich Street, 3rd Floor, New York, NY 10013 or by clicking the following link, http://www.theocc.com/about/publications/character-risks.jsp.

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

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