Exclusive: Citigroup Says To Shutter LavaFlow Stock Trading Venue …
Reuters
Dec. 2, 2014, 11:31 AM
111
Thomson ReutersCitigroup logo is pictured from the floor of the New York Stock Exchange
NEW YORK (Reuters) – Citigroup Inc said on Tuesday it is shutting down its alternative stock trading venue LavaFlow at a time when regulatory scrutiny around broker-run trading platforms has increased, forcing banks to rethink their costs.
“Following a recent review of the LavaFlow ECN, we have decided that our capital, resources and efforts would be better redeployed to other areas within Citi’s Equities Division,” Citi said in a statement.
(Reporting by John McCrank; Editing by Chizu Nomiyama)
More from Reuters:
New Regulations Reel In Fishing Of Atlantic Bluefin Tuna
Conflict, Militancy Hit Human Rights In Middle East, African Nations: TRFN
Two Killed As Helicopter Crashes Into Unoccupied Building In Utah
Pacific Storm Brings Much-needed Rain, Danger Of Mudslides To California
Eat Less Meat, Dairy To Slow Climate Change, Study Says
This article originally appeared at Reuters. Copyright 2014. Follow Reuters on Twitter.
Visit site:
Exclusive: Citigroup Says To Shutter LavaFlow Stock Trading Venue …
