Citi (NYSE:C) has today launched Total Touch ADR X-WiNG, a liquidity providing execution platform, catering to venues in both the American Depositary Receipt (ADR) market and the Europe, Middle East, and Africa (EMEA) region, according to a Citi statement.
The original iteration of Citi’s Total Touch platform launched back 2010, which at the time dealt with US single stocks. However since then, the lender has expanded its product focus and consequent offerings to entail coverage of ADRs, exchange-traded-funds (ETFs), Brazil, and EMEA.
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The Total Touch ADR X-WiNG helps optimize investor’s access to liquidity across both the US and EMEA, which aggregates several value-added trading attributions. More specifically, this includes a one-click solution to trading outsized block liquidity for EMEA based ADRs during pre-market hours in the US, as well as after the European market close.
In total, Citi’s Total Touch ADR X-WiNG makes markets across over two hundred ADR names, collectively representing over $8.6 trillion in market cap. The new launch is important as it will augment its existing Total Touch platform to new locales, as well as expanding the lender’s actionable liquidity capabilities.
According to Dan Sanders, Head of Americas Cash Equity Execution, in a recent statement on the launch: “Total Touch ADR X-WiNG was designed to help augment cross border trading efficiencies in today’s fast-paced global equity market landscape. Using this tool, our clients now have automated execution capabilities with price protection and the ability to leverage high quality, block liquidity in both EMEA and North America.”