Citi brings block trading to Brazil with TOTAL TOUCH PLATFORM to access BLOCK LIQUIDITY

Citi brings block trading to Brazil with TOTAL TOUCH PLATFORM to access BLOCK LIQUIDITY

Tim Cave

11 Jul 2013

11 Jul 2013

Citigroup is to expand its US electronic block-trading platform to include Brazilian equities, in a move aimed at combating the rise of high-frequency trading that has made it tougher for institutional investors to complete large trades in Brazil.

Citi brings block trading to Brazil

Citi’s Total Touch platform, which offers investors electronic access to US equities and exchange-traded funds, has been expanded to include Brazilian equities for the first time, Citi said in a statement.

The Total Touch platform, which was first launched in 2010, combines both high-touch, or voice-driven sales trading, with electronic execution methods to allow clients access to block liquidity.

Block trading platforms allow institutional investors to trade large orders without prices moving against them. Such trades have become increasingly difficult to complete during the rise of automated trading, which has reduced average order sizes.

According to BM&FBovespa‘s 2012 results, HFT participation on the Brazilian exchange’s equities segment grew from 8.5% to 9.4% of overall volume during the year. HFT participation on its derivatives segment, BM&F, increased from 6% to 6.5% in 2012.


Fabio Gheilerman, head of Latin America trading at Citi, said: “The rise of high-frequency trading Brazil has increased the appetite among our clients to be able to trade blocks in the country. Leveraging Citi’s global presence and local footprint, we are able to respond to client demands for electronic execution with price protection.”

BM&FBovespa is Brazil’s only stock and futures exchange operator. It has been attempting to court high-frequency traders to boost volumes and steel itself against the prospect of increased competition from rival venues.

US-based exchange operators, NYSE Euronext, Bats Global Markets and Direct Edge, as well as the London Stock Exchange, are exploring the opportunity of creating an alternative stock exchange in the country.

BM&F has cut fees to lure HFTs and offered specialist services such as co-location, which allows firms to place servers next to the exchange’s matching engine and shaves crucial seconds off trading times. It has also gone live with a new high-speed trading platform called Puma, developed with BM&FBovespa`s partner CME Group.


Citi’s move follows an announcement in May that it had overhauled its US electronic trading platform for equities, resulting in closer links between its electronic and sales trading desks that have historically been kept separate. The revamp formed part of the US bank’s push to help clients locate buyers and sellers for their equity orders amid a continued environment of low trading volumes.

Kevin Russell, Citi’s global head of cash equities trading, said: “The global equities market is at a crucial and unique phase in its evolution. The intersection of experienced human trader knowledge and robust electronic capabilities creates an opportunity for market participants to take advantage of a hybrid approach to investing.”

–write to Tim Cave,


About carlarweir
I am a Cross Asset FIX Connectivity SME working for international banks. i also sit on the FIX Protocol Ltd Global Steering Committee, and am Co-Chair of the Global Cross Asset Committee. I also have a very strong background in Mobile Telephony, Cloud computing, SaaS, IaaS, PaaS, Big Data, innovation, and am a pioneer in Pseudolite technology.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

OTC Clearing and Regulations

My views on OTCs and Regulations

Knowledge Problem

Commentary on Economics, Information and Human Action


4 out of 5 dentists recommend this site

Aditya Ladia's Blog

Forex, Investment and Finance

Soltis Consulting, Inc.

Business Concepts, Ideas, and Information


An Endeavor To Explore The Uncertanity

All About Cyber Security and Financial Technology and Beyond

The Future of FinTech and Cybersecurity are Interlocked: Creating the Secure Future of Financial Technology Today


Read about latest trends in Algo Trading in India or visit our website

Trading Smarter

Thought Leadership, Insight and Product Information from TradingScreen

Tales from a Trading Desk

Noise from an Investment Bank

The Main Street Analyst

New York City Magazine! Marketing, Social Media, Business - Connecting The Dots!

NPA Computers

Bringing you info about the latest on Internet Technology


An online journal of International Energy Trends, Green Building, Sustainability and Climate, A&E, Data, Security, CryptoCurrency and Social Media

Trade News in Brief

International Economic Affairs & Relations / Regional & International Organizations / Global Commerce & Business

Letters from Nopeville

Nothing to do here


The Single Dealer Platform Community

Carl A R Weir's Blog

A Cross Asset Connectivity and Finance site

%d bloggers like this: