On Tuesday, Shares of Citigroup Inc (NYSE:C), subtract -1.13% and closed at $48.99 in the last trading session. The last trading range of the stock ranges between $48.69 and $49.65. The company’s Market capitalization is $143.11 Billion with the total Outstanding Shares of 2.91 billion. During the 52-week trading session the minimum price at which share price traded, registered at $34.52 and reached to max level of $56.46. Citi has rebranded the Liquifi ATS into CitiBLOC, an alternative trading system designed for block execution. The platform leverages conditional orders to seek block execution while minimizing the opportunity cost typically associated with trading blocks of stocks. It is designed to only accept auto firm-ups, and has a nearly 90% normalized firm-up rate.1
CitiBLOC accepts conditional buy and sell orders and sends an invitation to firm-up to each of the participants when there is a potential match. It has an exclusive rank, time matching priority. Rank is determined by a combination of firm-up rate and size of firm-up orders. A minimum size of 5,000 shares or a notional value of at least US$100,000 is required per order. The crossing engine is also compliant with the SEC’s tick size pilot as all executions are done at midpoint.
“CitiBLOC is designed to leverage the conditional order concept in very unique and innovative ways seamlessly finding block crossing opportunities while encouraging and rewarding the right behavior among clients,” said John Procopion, Head of CitiBLOC. “We have created a closed-end venue that will assist streamline the process and establish a safe and secure trading environment.”
Synchrony Financial (NYSE:SYF), dropped -0.71% and closed at $26.54 in the last trading session. The last trading range of the stock ranges between $26.48 and $26.86. During the 52-week trading session the minimum price at which share price traded, registered at $23.25 and reached to max level of $34.60. This Cyber Security Awareness Month, the University of Connecticut’s (UConn) School of Engineering and Synchrony Financial (NYSE:SYF) have declared the launch of Synchrony Financial’s Center of Excellence in Cybersecurity (The Center) at UConn. The Center will promote cutting edge research in cybersecurity, a field that is expected to grow from $122 billion worldwide in 2016 to $202 billion by 2021.1
Through the partnership, Synchrony Financial will provide an endowment for a Synchrony Financial Chair in Cybersecurity to lead cybersecurity education at UConn and assist develop a strong pipeline of information security talent. In addition to research, Synchrony Financial has committed to funding a Cybersecurity Fellows Program and a Scholarship Program that will provide stipends to attract the brightest graduate students to UConn, where they will study and conduct independent cybersecurity research. The programs, which total $2.2 million in philanthropic support, will be funded over the next five years. Active negotiations regarding additional funding to support cutting-edge cybersecurity research are presently underway. This partnership exemplifies Synchrony Financial’s commitment to building trusted networks with shared awareness and common long-term aims.