Citi launches Total Touch block trading app
Citi has launched an equity trading app called Total Touch, which it says will help make it easier for investors to execute block trades in the European market.
The app is designed to re-aggregate liquidity into larger blocks, which are favoured by long-term, institutional traders trying to make portfolio adjustments. Initially, it will support 560 symbols in Europe, and its developers claim it combines the value-added services of high-touch and voice trading with the convenience of electronic execution.
Total Touch was launched in April in the Americas, where it . In that market, it currently supports 3,000 securities worth $20 billion.
“The European equities market is at a crucial and unique phase in its evolution,” said Sean Shanker, global head of Total Touch products at Citi. “The intersection of experienced human trader expertise and robust electronic capabilities creates an opportunity for market participants to take advantage of a unique approach to trading.”
A number of global exchanges and financial institutions already offer apps that focus on market data and other aspects of securities trading. These include apps released by exchanges such as Warsaw Stock Exchange as well as various bank apps released by Goldman Sachs and others.