Commentary

John Turney
Traders Magazine Online News

Foreign Exchange Infrastructure: Yesterday, Today and Tomorrow

In this exclusive to Traders Magazine, John Turney, Global Head of Outsourced FX at Northern Trust, discusses the evolution of the fx infrastructure and what is to come.

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February 1, 2004

Citi's Program and Alternative Change

By Staff Reports

Citigroup's newly created Alternative

Execution Group (AES) is consolidating the financial services giant's electronic trading lines. That comes as competition, led by alternative trading, direct access, program and algorithmic models, intensifies in computerized trading.

Citi has merged many business functions into AES: program trading, transition services, client connectivity, customer trading models and soft-dollar services. The latter also includes introducing broker services. All of these five activities were previously separate units within Citigroup's equities department.

Will Geyer has been tapped to lead AES. He will report to James Forsee, head of global equities. Geyer previously ran Citi's program trading. Jim Leman, managing director of external trading connectivity, and a leading figure in the automation of trading in the securities industry, was slated to leave Citi under the reorganization.