CitiFX Pro is Citigroup's online foreign exchange market trading platform for retail and small institutional traders including commodity trading advisors, broker-dealers, money managers, and hedge funds. As at 2009 it is live in U.S., European and Asian markets, with headquarters in New York and with offices in London, Singapore and Hong Kong. Some of the trading services are provided to Citibank as a white-label product by Saxo Bank.
CitiFX Pro offers trades in 130 currency pairs with settlement is always in the customer's base currency. The company also offers streaming prices with one-click trading and order management tools.
History
The parent company City Bank of New York was established in 1812 and by 1895 the institution was one of the largest banks in the world. In 1897, Citi became the first U.S. bank to establish a foreign department and began foreign exchange trading that year.
CitiFX Pro the retail foreign exchange trading service was launched in the United States in March 2008 and in Hong Kong and Singapore in September, 2008.
In February, 2009, the company added Federal Deposit Insurance Corporation(FDIC) insurance on US dollar deposits placed as margin for trading.
Later in 2009, CitiFX Pro became available on MetaTrader, the widely used technical analysis and programmatic FX trading platform. That same year, the company introduced CitiFX Pro Mobile, a mobile version of the CitiFX Pro trading platform. 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. CitiFX Pro clients also receive access to Citi research.
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