Citi is to launch CitiFX Velocity, a new global foreign exchange e-commerce platform for professional traders in Asia Pacific.

The platform has been designed to allow traders to customise orders and execution needs, while providing access to the liquidity within Citi's FX price stream, and covers spot, forwards and options.

It covers all stages of the transaction value chain: pre-trade, trade and post-trade.

Lung Nien-Lee, co-head of corporate sales and structuring for Citi in Asia Pacific and global markets head for Singapore, said: "This new product underlines Citi's focus on providing our clients with innovative products in the FX space. It also underlines our continued commitment to our clients across Asia Pacific to invest in the technology and infrastructure to meet their evolving needs in the Foreign Exchange markets."

It offers both exchange-based and one-click streaming execution, alongside advanced-order capabilities. The spot exchange model enables clients to trade against other client interest, with the option of viewing either the full depth or the top of the book, and deal in any size. Users can place limit, market, pegged and trailing-stop orders as close to the prevailing market as desirable. Users can also click and trade streaming spot, forward outrights or swaps.

Nadir Mahmud, head of foreign exchange and local markets, Asia Pacific, at Citi, added: "With CitiFX Velocity, using advanced order types to execute trades is simple. Our weighted-average pricing allows clients to determine the approximate price for the exact fill size required. Our fully customizable 'time slice' feature allows clients to execute a 'time-weighted-average price' order, enabling them to control the market impact."