The prime-based, hosted service is expected to be launched by mid-second quarter 2011.
TraderTools said the new service will provide a more cost-effective alternative to traditional ECNs, which execute FX trades anonymously and charge both liquidity providers and takers.
With LightFX, liquidity takers will receive relationship pricing at significantly reduced upfront and operational cost, while liquidity providers benefit from being able to provide a fully-transparent service where they can differentiate themselves from their competition.
TraderTools CEO Yaacov Heidingsfeld said the market is demanding fully-disclosed, relationship-based pricing. Partnering with Citi brings them a premier prime broker with full STP and messaging functionality, quick time-to-market and vast experience in fast-changing regulatory environments.
