Citi Debuts Alternative Trading Platform
Users will have access to institutional and retail order flow before it hits the open market, according to Citi. The bank says that this is the first dark pool to leverage an even allocation matching algorithm to fill orders on a per-participant basis.
"Citi Cross allows our clients with varying trading styles to provide a valuable source of liquidity to institutional and retail flows," says Hannes Greim, head of Citi Cross ATS. "By mitigating those factors which have generated market micro-structure advantages on other platforms, we have created a venue on which historically eschewed flows can interact in a controlled, equitable, and even manner."
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