CitiFX Pro

CitiFX Pro is Citigroup's online foreign exchange market trading platform for active individual and small institutional clients including commodity trading advisors, broker-dealers, money managers, and hedge funds. The company is currently live in U.S., European and Asian markets, with headquarters in New York and with offices in London, Singapore and Hong Kong.

CitiFX Pro offers trades in over 130 currency pairs ^[1] Settlement is always in the customer’s base currency. CitiFX Pro also offers streaming prices with one-click trading and order management tools.

History

City Bank of New York was established in 1812 and by 1895 the institution was one of the largest banks in the world.^[2] In 1897, Citi became the first U.S. bank to establish a foreign department and began foreign exchange trading that year.^[3]

The CitiFX Pro service was launched in the United States in March 2008 and in Hong Kong and Singapore in September, 2008.^[4]

In February, 2009, the company added Federal Deposit Insurance Corporation(FDIC) insurance on US dollar deposits placed as margin for trading.^[5]

Later in 2009, CitiFX Pro became available on MetaTrader, the widely used technical analysis and programmatic FX trading platform.^[6] That same year, the company introduced CitiFX Pro Mobile, a mobile version of the CitiFX Pro trading platform.^[7] The platform supports Application Program Interface via FIX protocol (API-FIX) to allow for automated execution of trades for FX traders using automated price feeds into their trading application. This allows clients to send orders for execution into CitiFX Pro’s pricing engine.^[8] CitiFX Pro clients also receive access to Citi research.

Awards and recognition

In 2011, Citi received the "Best Retail FX Platform" award from Profit & Loss Magazine for the second year in a row.^[9]

Other awards received in 2011 include^[10]:

• Best Retail Platform ^[11]
• Best FX Platform ^{[Profit & Loss]}
• Best Corporate Platform ^{[Profit & Loss]}
• Best Bank for FX Prime Brokerage ^{[Profit & Loss]}
• Best Bank for Order Management ^{[Profit & Loss]}

Industry awards received in 2010^[10]:

• Best Bank for Spot FX ^{[FX Week]}
• Best Bank for FX Structured Products ^{[FX Week]}
• Best Bank for Dollar Yen ^{[FX Week]}

Industry awards in 2009^[10]:

• Best Bank for Spot FX ^{[FX Week]}
• Best Bank for FX in North America ^{[FX Week]}
• Best Retail FX Newcomer ^{[World Finance]}
• Best Bank for Dollar/Yen ^{[FX Week]}
• Best Bank for Third-Party CLS ^{[FX Week]}

References

1. ^ http://www.bestbrokerforex.com/articles/citifxpro-broker-review/
2. ^ http://www.forexblog.org/citifx-pro
3. ^ http://www.citi.com/citi/corporate/history/citibank.htm
4. ^ Lee Oliver, “Retail: Citi Launches CitiFX Pro for Private Clients,” Euromoney December 2007
5. ^ Christine Birkner, “FDIC Protection,” Futuresmag.com March 19, 2009
6. ^ http://www.e-forex.net/news/e-FX+News/47309/CitiFX+Pro+launches+on+MetaTrader
7. ^ http://www.takesontech.com/citifx-pro-goes-mobile
8. ^ http://www.citifxpro.com/institutional-center
9. ^ http://www.forexpros.com/brokers/citibank/press-releases/profit---loss-names-citifx-pro-%E2%80%9Cbest-retail-platform%E2%80%9D-for-margin-fx-trading-52239
10. ^ ^{a b c} "Awards and Recognitions". CitiFXPro. http://www.citifxpro.com/awards. 
11. ^ FX Week Winners 2011