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Citifx Pro(sm) Us Dollar Margin Now Covered By Fdic Insurance

Discussion in 'Press Releases' started by CitiFX Pro, Feb 26, 2009.

  1. CitiFX Pro

    CitiFX Pro CitFX Pro Representative

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    New York - Citi announced that it will offer Federal Deposit Insurance
    Corporation (FDIC) insurance on US dollar deposits placed as margin for trading on CitiFX Pro, Citi’s online margin FX trading platform. As an additional benefit of dealing with a global market leader in foreign exchange, CitiFX Pro clients will now benefit from insurance on their US dollar margin deposit regardless of account size. CitiFX Pro features a state -of-the-art trading platform that offers liquidity in 130+ currency pairs as well as award-winning market commentary and research. CitiFX Pro was launched in March 2008 and is designed for small institutions, managed accounts and individuals experienced in margin trading.

    As a participant in the FDIC’s Transaction Account Guarantee Program, through December 31, 2009, all Citibank U.S. non-interest bearing transaction accounts are fully insured by the FDIC for the entire amount in the account. Accordingly, US dollar margin deposits maintained with Citibank NA in connection with CitiFX Pro transactions are fully insured; non-US dollar amounts (EUR, GBP, JPY and HKD) are held outside the US and are not insured.

    ”CitiFX Pro is proud to provide clients with the strength and reliability of a market leader with over 100 years of foreign exchange experience. Today’s market realities highlight the importance to investors of deposit protection, and we are pleased to offer that additional level of security to our clients” said Sanjay Madgavkar, Head of Foreign Exchange Margin Trading at Citi.

    CitiFX Pro also recently announced the expansion of its margin trading platform with a tailored offering for Advisors who trade foreign exchange as an asset class on behalf of their managed accounts. For more information, please visit FX trading for individuals - CitiFX Pro
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    Media inquires: Danielle Romero-Apsilos 212 816 2264

    About CitiFX Pro
    CitiFX Pro is an online foreign exchange trading platform formed in November 2007 in partnership with Saxo Bank, the Copenhagen- based online Bank. CitiFX Pro offers Citi’s individual and small institutional clients an opportunity to take full advantage of the world’s largest financial market with access to the same real time data and trading technology as institutional traders. CitiFX Pro is currently live in US and Asian markets and will be launched in additional regions in early 2009. Additional information may be found at FX trading for individuals - CitiFX Pro
     

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