Citi Selects Fidessa to Deliver Global Derivatives Platform

The U.K. vendor will provide the banking giant with a trading platform for its derivatives business.

Citgroup (New York, $1.9 trillion in assets) announced that it has selected U.K. vendor Fidessa for the provision of a workflow and trading platform for its global listed derivatives business.

Citi said it will leverage Fidessa's scale and distribution to deliver a fully managed service that satisfies its listed derivatives needs around the world. Fidessa will provide Citi with a global order management and distributed low-latency execution platform along with BlueBox, Fidessa's integrated algorithmic trading engine.

The new platform will be implemented in a number of phases commencing later this year, will leverage Fidessa's network of hosting centers across North America, Europe, Asia Pacific and Japan, and will be closely integrated with Citi's own proprietary internal back-office business systems.

Bryan Yurcan is associate editor for Bank Systems and Technology. He has worked in various editorial capacities for newspapers and magazines for the past 8 years. After beginning his career as a municipal and courts reporter for daily newspapers in upstate New York, Bryan has ... View Full Bio