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Citi Rolls Out New Pairs Algo

Traders Magazine Online News, January 12, 2012

James Armstrong

Citi has introduced a new algorithm for pairs trading, allowing equity traders to execute market neutral strategies by simultaneously buying and selling highly correlated securities.Internally, Citi has had a pairs strategy for a while, but about five months ago it started offering the algo to some of the clients using its Dagger product, which Citi turned into a full-fledged platform algo last year.

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