The Citigroup Move
BEFORE THE SPIN
Citigroup's Corporate and Investment Banking (CIB) group made waves last week when it announced that Citi group is launching an ECN that will run on the technology of OnTrade, which Citigroup bought from NexTrade Holdings.
OnTrade will function as is until Citigroup makes "certain technology enhancements," that are expected to be complete in the second quarter of this year. In a prepared statement, Jim O'Donnell, head of Citigroup U.S. Equities, says that Citigroup wants an ECN for "execution
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