Story Stocks: Citigroup (NYSE:C), Potash (NYSE:POT), BHP Billiton (NYSE:BHP), Chevron (NYSE:CVX)
August 17, 2010 at 11:15 AM EDT
Citigroup (NYSE:C) says it will start so-called dark pool electronic trading in Singapore early next year to meet growing demand in Asia. The bank is expanding its regional footprint after its off- exchange trading in Australia increased to a record A$1.5 billion ($1.3 billion) in June from about A$700 million to A$800 million a year earlier, said Paul Sanger, Citigroup’s Asia- Pacific head of execution services. He declined to comment on when the Singapore platform would start operating. “We’ve doubled volumes in Australia in a very quiet month,” Sanger said in a telephone interview. “We’re hoping the rest of the markets will similarly grow.” Dark pools are trading venues that don’t display quotes publicly, helping investors minimize price fluctuations and save costs. The growth of such networks in Asia has…