Tech Update: NeoNet enhances trading offering with Citi's algorithmic trading suite
NeoNet, the global DMA agency broker and EMS software provider has entered an agreement with Citi to make its algorithmic trading suite available to NeoNet's customers. The agreement, the first of its kind for Citi and NeoNet, will allow buy- and sell-side clients to access Citi's algorithms through NeoNet's trading platform.
Richard Evans, Head of Citi Alternative Execution Europe said: "NeoNet customers will now benefit from the years of investment we have made in quantitative teams, technology and infrastructure to build a world class algorithmic suite. Our specialist algorithmic trading development team is committed to providing clients with state of the art trading solutions through their own existing execution platforms. We hope to work with many more broker dealers and intermediaries to provide their customers with direct, easy access to our algorithms".
Simon Nathanson, NeoNet CEO said: 'Adding Citi's algorithms to NeoNet's services for advanced trading enhance our offering even further. Our combination of high-performance systems and global reach, with advanced functionality and in-depth market knowledge provides our clients with a complete service. We are delighted to evolve our business with Citi, who already uses NeoNet's hosted trading system and software services, NeoNet XG.'
Citi's rapid growth in algorithmic trading is testament to its continued commitment to provide the market leading trading solution. Developed for Citi's own equity trading team, Citi provides this same highly flexibility and innovative algorithmic suite to their clients. The billions of dollars executed daily through Citi's algorithms provide a track record of consistently high performance and stability of infrastructure that can be relied upon. Citi's teams of regional experts ensure algorithms are developed and continually optimised with the full understanding of local market nuances.
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