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Citi rolls out suite of intelligent options algos

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Citi has added new algorithmic trading functionality for US equity options to its suite of electronic trading strategies.



The intelligent option algorithmic functionality expands upon Citi’s existing Option DMA and Option Algo Order Types.

All of these strategies use Citi’s proprietary smart routing logic, which provides clients with unique liquidity and price improvement opportunities while avoiding information leakage.

“Providing traders with speed, liquidity and the desired degree of exposure is essential in today’s rapidly evolving market,” says Kevin Murphy (pictured), head of US option electronic execution. “Citi continues to be the leader in option execution quality, leaning on our deep knowledge of market structure and extensive experience in the equity and option industries.”

The new options smart algorithmic suite includes several dynamic strategies for increased order execution flexibility and improved execution performance. In addition to the TWAP and SmartPeg strategies, Citi is adding equity options to its flagship algorithm with multiple levels of aggression.

“As the option market continues to adopt algorithmic trading, we will continue to leverage all of our electronic capabilities to increase the level of functionality and premium service we provide,” says Vivek Arora, head of US algorithmic product development. “The enhanced algorithm functionality for options is another milestone in delivering additional levels of sophistication and flexibility to our buy-side customers.”

Earlier this year, Citi added pairs trading functionality for equity securities to its platform which allows traders to execute market neutral strategies to help leverage changing market conditions by simultaneously selling and buying highly correlated securities. Citi has also expanded its algorithmic platform to multiple non-US destinations including Mexico, Brazil and Canada.

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