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Citigroup is in a privileged position in forex. As the world's largest commercial bank, it has strong credit relationships with a multitude of corporates that guarantee forex flows. As one of the largest custodial banks, it also has strong relationships with many fund managers.
In online forex, CitiFX measures up well to its many peers. But it has one overriding feature - breadth of offering. In isolation, the features on its website - research, analytics, execution - came close runners up in all the other forex awards categories, but didn't have the edge to make them winners. But together, CitiFX's online features and functionality combine to make it the most comprehensive internet forex offering available.
CitiFX online tools are tailored to clients with differing expertise and needs, and are bound up in one easy-to-navigate portal, combining research documents, portfolio analysis tools and flow data, through to two trading systems and an online confirmations system. Vikas Srivastava, global head of ecommerce of CitiFX, says: "The interoperability and interaction between offerings on the website make it a powerful suite of offerings. It's part of a continuum of interaction between Citigroup and its clients."
CitiFX's online features and functionality combine to make it the most comprehensive internet forex offering. At first glance, CitiFX Interactive, the portal homepage, looks similar to other bank homepages. It lists market commentary, news and reports, market rates, economic analysis and strategy publications. On closer examination it can be seen that market rates (including markets other than forex), commentary, news and reports are provided by a third party. This is a strange choice from such a large bank with its own inhouse research, though it does add an air of...