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Citigroup Unveils Intelligent Options Algos

The bank said the offering will give traders speed, liquidity and their desired degree of exposure, as the use of algorithms in options trading continues to rise.

Citigroup announced the rollout of a new suite of intelligent option algorithms that it says will feature the bank's proprietary smart routing logic, which is designed to provide users with unique liquidity and price improvement opportunities while avoiding information leakage.

Citi said its latest options algorithms, which feature TWAP and SmartPeg strategies, are designed to give traders more flexibility with order executions. The firm noted that its flagship algorithm now also features equity options with multiple levels of aggression.

This rollout comes as a growing number of players within the options market continue to adopt algorithmic trading strategies, said Vivek Arora, Citigroup's head of U.S. algorithmic product development.

"The enhanced algorithmic functionality for options is another milestone in delivering additional levels of sophistication and flexibility to our buy-side customers," Arora said.

Citigroup's latest moves come on the heels of a decision earlier this year to add pairs trading functionality for equities to its platform. The firm said this allows traders to execute market neutral strategies to help leverage changing market conditions by simultaneously buying and selling highly correlated securities.

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