Citigroup has completed an "extensive upgrade" of its electronic trading infrastructure and now says it is providing institutional clients with continuous, 24-hour access to global markets.
The new infrastructure removes various limitations in different markets that affect the sending, managing and execution of next-day orders for stocks that are either algorithmically driven or involved direct access to markets by clients, Citigroup said.
These features are designed, it said, to deal with "a complex set of systemic barriers to execute in non-local markets."
The new, globally integrated platform provides "efficient overnight queuing and the ability to acknowledge, modify and cancel self-directed trades 24 hours a day, seven days a week,'' the financial services firm said.
The infrastructure runs on messages using Financial Information Exchange formats.
"With this upgrade, Citi can offer clients unique opportunities to efficiently manage orders across Europe, the Middle East, Asia and the Americas," said Dan Keegan, Co-Head of Citi Global Electronic Markets. "We are dedicated to helping our customers trade, whenever, wherever and however they want across global equity markets."
Citigroup, which has approximately 200 million customer accounts, operates in more than 160 countries.
The company in March launched an electronic equity trading product suite for Brazil, Mexico and Canada, expanding its reach in the Americas and increasing its global trading footprint to more than 35 countries.