Core Forex Dealing Principles
Citi is on your side.
Citi has deployed best practices developed over decades of FX trading into its CitiFX Pro platform. Our goal is to bring fair and equitable pricing and order-handling practices to all our clients. Let’s talk about some of these specifically:
Pricing
Neutrality in Pricing: All our clients are priced off the same pricing feed, which means that our clients never receive pricing that is skewed (directionally biased) in a client-specific manner. This is important insofar as clients never receive pricing that is skewed on factors such as: expectations of dealing style, client positions, or any other such factors. Please note, certain clients may receive narrower bid-ask spreads based on high volumes traded on the platform. We are always happy to have a discussion on these bid-ask economics with clients based on high levels of committed trading volumes.
Reflects underlying (interbank market): All pricing offered by CitiFX Pro always reflects prevailing levels in the underlying interbank market*. Prices do not depart significantly from these prices, unless for circumstances outside our control, such as technology latency. This is important because clients must have confidence that the prices they are getting reflect the currently prevailing interbank market prices (that is, prices traded at that moment between the major interbank market participants).
*assuming normal technology functioning including price latency and the potential effect of mis-feeds in the underlying price contributions.
Order-Handling
All orders are triggered based on the price feed received by you. This price feed always reflects the underlying prevailing market prices* (plus/minus the bid/ask spread) with no interference. Some clients have concerns about unexplained spikes or sudden market moves in the price feed that may trigger orders but do not correspond to moves in the underlying market. This is particularly important if spikes trigger the execution of stoploss orders. CitiFX Pro’s pricing feed always reflects the underlying market*—this is our assurance to you.
*assuming normal technology functioning including price latency and the potential effect of mis-feeds in the underlying price contributions.
Trading foreign exchange involves a high degree of risk. CitiFX Pro offers trading on margin. The leverage created by trading on margin can work against you as well as for you, and losses can exceed your entire investment. Before opening an account and trading, you should ensure that you understand the risks and can withstand the losses and that you seek advice from your advisors as appropriate. Please review the Full Risk Disclosure for customers in Asia and Privacy Disclosure carefully before opening an account. The views in this communication should not be considered as investment advice. Any trading or investment decision you take should be based upon your own independent judgment and/or advice from your advisors, as you deemed necessary. CitiFX Pro is a service offered to you solely by Citibank N.A., New York, 390 Greenwich Street, New York, NY 10013 and not by any other branch, subsidiary, or affiliate of Citibank NA (including Citibank (Hong Kong) Limited and Citibank N.A. Hong Kong Branch). Citibank N.A. is an entity organized under the laws of the United States of America. You should note that margin funds transferred to an account of Citibank NA in Hong Kong in respect of CitiFX Pro is not currently protected by the Deposit Protection Scheme in Hong Kong. Margin funds transferred to an account of Citibank NA in Singapore in respect of CitiFX Pro, will not benefit from protection under the Deposit Insurance Act, Chapter 77A of Singapore. In Singapore, CitiFX Pro is provided by Citibank N.A., New York branch under an arrangement with Citigroup Global Markets Singapore Pte Ltd ("CGMSPL"). CitiFX Pro is directed only at persons in Singapore who qualify as an "accredited investor" or "expert investor" or "institutional investor", each as defined in the Securities and Futures Act, Chapter 289 of Singapore (“SFA”) save that the definition of "expert investor" in the SFA is, for the purposes of CitiFx Pro, subject to the modifications in the next paragraph. For the purposes of CitiFX Pro, an individual will qualify as an "expert investor" only if the individual has experience in trading in financial markets, as part of the individual’s business or employment and shall not include individuals whose experience consists solely of trading in financial markets in a proprietary or personal capacity. For the purposes of CitiFX Pro, a non-individual will qualify as an "expert investor" only if it is (i) a company or association or body of persons, corporate or unincorporated, whose business involves the acquisition and disposal or the holding, of "capital markets products" (as defined in the SFA), whether as principal or agent; and (ii) wholly-owned by persons who themselves qualify as an "accredited investor" or "expert investor" or "institutional investor" (each as defined in the paragraph above) in their own right. If you are not an "accredited investor", "institutional investor", or "expert investor", you will not be permitted to open a CitiFX Pro account. For more information on CitiFX Pro and/or information regarding how to demonstrate your qualification as an "accredited investor" or "expert investor" or "institutional investor", please refer to the application form or contact us directly at +65 3158 0363, or at sales@citifxpro.com. Copyright ©2011 Citigroup Inc.