Citi Invests in Currency Options Platform
Posted by Colin Lambert. Last updated: October 13, 2023
FX option trading platform Stream Systems says it has secured a strategic investment from Citi’s Institutional Strategic Investments arm.
The Citi vehicle invests in fintech companies globally that are strategically aligned to the bank’s institutional businesses and the bank is integrating Stream Systems’ technology with elements of Citi Velocity, its single dealer platform. This will provide increased liquidity and trading efficiencies to the Interbank dealer market, Stream Systems says, adding, expanded product offerings on Velocity will allow Citi and other interbank participants to meet their specific hedging and trading needs, and expand to other global centres.
“With the continued market emphasis shifting towards more electronification and automation in FX, as well as expanding sources of liquidity in a more bespoke options market, Stream’s technology supports Citi’s efforts to deliver on both of these to our clients,” says Robert Finn, head of FX options at Citi.