Citi in Talks to Buy Electronic Trading Firm: WSJ

Wednesday, 27 Jun 2007 | 3:57 AM ET

Citigroup is in advanced talks to buy Automated Trading Desk, an electronic trading firm, for about $700 million, The Wall Street Journal Online reported on Tuesday.

The purchase could be announced this week, the Journal said, citing people familiar with the matter.

The deal would be part of Citigroup's strategy of trying to increase its market share in trading U.S. stocks while bringing under its roof computer programs that could improve its efforts to trade stocks overseas, according to the report.

Citigroup did not immediately return calls seeking comment. A spokeswoman for ATD declined comment.

  Price   Change %Change


Contact U.S. News


    Get the best of CNBC in your inbox

    › Learn More

Don't Miss

U.S. Video

  • Investors need to separate new tech from old tech, says Christopher Wolfe, Merrill Lynch, sharing his views on whether there's a tech bubble brewing. And Mark Haefele, UBS Wealth Management, weighs in.

  • Chris Caso, Susquehanna Financial Group analyst, shares his outlook on Apple in the second half. Apple needs to show shareholders the next new thing, says Caso.

  • CNBC's David Faber and Carl Icahn, chairman, Icahn Enterprises, discuss corporate boards, a dysfunctional system, his impact as an activist investor and why what he does is important, as well as the use of poison pills to fend off activists. He also finds himself in the unusual position of defending Bill Ackman's recent efforts to partner with Valeant and acquire Allergan.