Global bank, Citi, has rebranded its Liquify ATS as CitiBLOC, a block execution alternative trading platform. The system leverages conditional orders to seek block execution, lowering the normal opportunity cost seen when trading stocks in blocks. The platform will only accept auto firm-ups, with an approximate 90% firm-up rate. A minimum of 5,000 shares or at least $100,000 is required per order. In addition to these new offerings, there are also several other projects that aim to improve liquidity and reduce volatility. Citi has called CitiBLOC a “major milestone” in its platform.
Global bank, Citi, has rebranded its Liquify ATS as CitiBLOC, a block execution alternative trading platform. The system leverages conditional orders to seek block execution, lowering the normal opportunity cost seen when trading stocks in blocks. The platform will only accept auto firm-ups, with an approximate 90% firm-up rate. A minimum of 5,000 shares or at least $100,000 is required per order. The platform complies with the SEC’s tick size pilot, as its executions are completed at mid-point. Citi has called CitiBLOC a “major milestone” in its platform.