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Citi partners with tradable to offer FX liquidity
Tradable, the award-winning open trading platform, has announced a partnership with leading US multinational financial services corporation Citi.
Published On: Dec 12, 2012
The agreement will allow brokers on the tradable platform to trade with Citi on the CitiFX TradeStream, focusing on liquidity and margin solutions.
Tradable, the world’s first open trading platform, allows traders to create a completely bespoke, online platform so they can work in a way that best suits them.
The Copenhagen-based firm introduced its integrated App Store concept where traders can download from an extensive catalogue of globally crowd-sourced apps developed by financially savvy third-party developers. Many apps have already been created for the platform and these include automated trading tools, algorithmic trading strategies, social trading apps, charting tools, and market news and data apps among others. Further app development is ongoing.
Jannick Malling, CEO and co-founder of tradable, said: "We are extremely pleased to work with Citi as a liquidity partner. It is paramount for tradable, our brokers and partners that we offer an open platform from a trading and liquidity perspective also.
We believe that brokers should be able to trade with whichever liquidity provider they want. Citi has proven to be one of the most committed liquidity companies in the industry."
CitiFX TradeStream helps small to mid-sized institutions improve their FOREX trading operations by providing a one-stop solution from Citi for counterparty relationships, as well as liquidity sourced from multiple contributors, and leading technology. The tradable partnership represents a new milestone for both Citi and its TradeStream offering.
Alex Knight, the Global Head of FX Margin Trading at Citi, commented on the new partnership: "Citi is excited to partner with tradable. We share tradable's vision of an open platform that benefits the broker, the liquidity provider and the end-client. The industry is looking for something new, and we are happy to be one of the early adopters of a model that we think is going drive innovation and help to reshape the industry."
"We believe CitiFX TradeStream with its ultra competitive aggregated liquidity available through a margin account directly with Citi, is the perfect fit for tradable and their broker partners."
tradable, which recently won the award as the Most Innovative Financial Product at the ForexMagnates Summit last month in London, has already announced its BETA launch with six FSA regulated brokers in the UK and will announce additional global broker and liquidity partnerships in the coming months.
For further information please contact Jonny Davies on 0207 0251 361 or email@example.com
Notes to editors:
tradable is an open trading platform that allows traders to tailor their trading environment with 3rd party apps available on the tradable app store. With the tradable API, 3rd party developers can build and deploy a range of custom trading tools and apps, designed to empower traders. The tradable platform is offered to traders through regulated brokers and financial institutions only. http://tradable.com/
About Citi: 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.