Citi has launched Total Touch ADR X-WiNG, described as a liquidity providing execution platform that optimises investor’s access to liquidity in Europe, the Middle East and Africa (EMEA) and also the US American Depositary Receipt (ADR) market. The Total Touch block trading execution platform originally launched in 2010 for US single stocks and its product offerings have since expanded to cover ADRs, exchange traded funds (ETFs), Brazil and EMEA.
Total Touch ADR X-WiNG makes markets in over 200 ADR names representing over $8.6 trillion in market cap. Combining the value-added attributions of high-touch trading, with the efficiency and ease of low-touch actionable execution, the platform provides a seamless one click solution to trade outsized block liquidity for EMEA-based ADRs during pre-market hours in the US and through the European market close.
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
The Danish shipping and oil conglomerate confirmed that it will separate its businesses into stand-alone transport and energy divisions.
The central bank has tweaked its stimulus programme and is making a fresh effort to push Japan’s inflation rate above its 2% target.
A global survey of 200 corporate treasurers by Temenos and Ovum shows that many expect at least some banking services to relocate away from London.