{"id":34525,"date":"2015-04-15T07:42:56","date_gmt":"2015-04-15T11:42:56","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=34525"},"modified":"2015-04-15T07:42:56","modified_gmt":"2015-04-15T11:42:56","slug":"citigroup-inc-nysec-looking-to-sell-retail-fx-arm","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/citigroup-inc-nysec-looking-to-sell-retail-fx-arm-34525","title":{"rendered":"Citigroup Inc (NYSE:C) Looking To Sell Retail FX Arm"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>Citigroup Inc (NYSE:C)<\/strong> is looking for a purchase for its retail brokerage CitiFX Pro. This is in keeping, with the overall strategy to streamlining the largest currency trading operation in the banking domain. The information came from a source acquainted with the scenario.<\/p>\n<p style=\"text-align: justify;\">Citigroup has decreased hiring and automated several parts of its currency business in the last few years. According to market sources, it has actively rationalized its institutional client base in the &#8220;prime broking&#8221; sector from the advent of this year.<\/p>\n<p style=\"text-align: justify;\">The deal was first informed by industry website financemagnates.com. Currently, other banks are pondering regarding reinvesting in currency trading. This was driven by a rise in volumes and returns over the previous year.<\/p>\n<p style=\"text-align: justify;\">Citi FX Pro is an online forex trading service that provides professional individual traders and minor institutional players access to over one hundred and thirty plus currency pairs.<\/p>\n<p style=\"text-align: justify;\"><strong>Storm in the forex market<\/strong><\/p>\n<p style=\"text-align: justify;\">It belongs to a sub-sector of the forex market. The latter&#8217;s credibility has been severely hit owing to the collapse of few businesses and heavy loss for others. The reason was ostensibly the January surge of the Swiss franc.<\/p>\n<p style=\"text-align: justify;\">The last few years have been turbulent for bank&#8217;s currency trading enterprises. The latter have been adversely affected by a host of regulatory inquiries as well as scandals. Many senior traders have relinquished their options or were suspended.<\/p>\n<p style=\"text-align: justify;\">The changing capital needs, as well as regulatory environment, has made it expensive to operate trading operations such as FX. The latter offer sizable leverage and conduits for trade and other larger financial entities to hedge funds.<\/p>\n<p style=\"text-align: justify;\"><strong>New business models<\/strong><\/p>\n<p style=\"text-align: justify;\">Banks are looking to novel business models that take into account all the fresh rules and conditions applicable. Everyday market volatility has tripled on major currencies. The form ramps up trade volumes and the money that bank handling desks can earn from trading.<\/p>\n<p style=\"text-align: justify;\">A London based brokerage source professing anonymity has predicted banks would start investing in FX again.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Citigroup Inc (NYSE:C) is looking for a purchase for its retail brokerage CitiFX Pro. This is in keeping, with the overall strategy to streamlining the [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":27390,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[1631,1008],"stock_ticker":[],"class_list":["post-34525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-citigroup-inc-nysec","tag-nysec","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Citigroup Inc (NYSE:C) Looking To Sell Retail FX Arm - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cablemanpro.com\/wallstreetpr\/citigroup-inc-nysec-looking-to-sell-retail-fx-arm-34525\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Citigroup Inc (NYSE:C) Looking To Sell Retail FX Arm - Wall Street PR\" \/>\n<meta property=\"og:description\" content=\"Citigroup Inc (NYSE:C) is looking for a purchase for its retail brokerage CitiFX Pro. 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