Bulge bracket broker Citi is now offering its electronic block pricing system via the Bloomberg system.
Citi has launched Total Touch Price, an electronic block pricing tool on the Bloomberg App Portal to reach more buyside clients and help them execute block trades.
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The introduction of Total Touch Price marks the first time a broker is using the Bloomberg App Portal to deploy an application globally via the vendor’s Professional service, according to a release. Investors can now request bespoke prices for block orders on-demand as an integrated part of their workflow on the Bloomberg Professional service.
Total Touch Price is an enhancement to its Total Touch product, a block electronic execution platform that offers clients the ability to access Citi’s liquidity electronically in over 3,000 names, including U.S. stocks, ETFs and equities in Latin America.
Total Touch is already integrated with the Bloomberg EMS and its IOI network.
“Total Touch Price enhances the level of electronic communication with our clients in relation to pricing real time blocks on an actionable basis,” said Sean Shanker, director, cash products at Citi. “It will elevate block trading to a whole new level.”
Total Touch Price, according to Citi, will provide its clients with greater transparency into block pricing, and is specifically tailored to their specific order size, reducing information leakage signaling, and liquidity fade.
