SunGard today announced that customers of its Decalog order management system (OMS) can now access proprietary algorithmic trading strategies from Citigroup Corporate and Investment Banking.
Traders are able to benefit from Citigroup's algorithmic strategies directly from the Decalog OMS blotter. Decalog (http://sungard.com/decalog) provides portfolio and trade order management functionalities, helps streamline investment workflow and helps traders achieve best execution on local and cross-border trading operations.
Citigroup's algorithmic trading suite has been developed in house over a number of years on Citigroup's internal order flow, focusing on providing transparent user-controlled algorithms tailored to each client's needs, rather than provide hidden black-box type solutions.
Citigroup has designed, tested and optimised its trading engines to take account of idiosyncrasies at market and single-stock level, to offer its clients robust and efficient performance for both large and mid-capitalisation orders.
Richard Evans, head of alternative execution in Europe for Citigroup, commented: "We are pleased to partner with SunGard to provide our offering via Decalog. Our models are fully transparent and we look forward to sharing our extensive knowledge and experience of implementing algorithms with Decalog customers."
Eyal Yaron, vice-president of product management at SunGard's Decalog business unit, added: "This partnership will help our customers to access and use some of the most advanced trading tools available to achieve best execution. Citigroup's algorithmic trading strategies are embedded within the Decalog 5.0 Trading Blotter which combines order routing details with the specifics of the algorithm's unique parameters. Our customers are able to download new and custom algorithms directly to their trading blotter without the need for software upgrades thus enabling them to use new trading strategies as soon as they are published by Citigroup."
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Citigroup (NYSE: C), the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management.
Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at www.citigroup.com.
Citigroup's corporate and investment bank provides complete financial solutions to corporations, governments and institutional investors in more than 100 countries. Award-winning businesses include corporate and investment banking, sales and trading, transactions services, commercial finance and insurance products. Additional information can be found at www.citigroupgcib.com.
Decalog
A front- and middle-office solution for investment management activities at global asset management firms, Decalog provides portfolio management, performance analysis, compliance, trading and order management.
SunGard
With annual revenues of $4 billion, SunGard is a global leader in software and processing solutions for financial services, higher education and the public sector. SunGard also helps information-dependent enterprises of all types to ensure the continuity of their business. SunGard serves more than 25 000 customers in more than 50 countries, including the world's 50 largest financial services companies. Visit SunGard at www.sungard.com.
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