MTS Bans Citi for 30 Days
BREAKING NEWS
Citigroup Global Markets Ltd. (CGML) has been banned from trading on the Italian electronic bond network MTS for one month, effective Nov. 1, MTSofficials announced late last week.
The action by the MTS Wise Men committee is in response to Citigroup's controversial billion-dollar trades via MTS in August 2004. Reportedly, Citigroup's traders executed the trades in paper sales in two minutes over the MTS platform, bringing down the value of futures contracts.
Citigroup then re-entered the market
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