Foreign exchange trading platform FXall has completed the acquisition of Citigroup’s currency trading system and taken on 25 of the bank's staff, in a deal the groups claim will boost FX liquidity for the US bank's customers.

FXall, which is part-owned by a consortium of investment banks, today confirmed it has acquired Citigroup-owned LavaFX with a view to integrating the system with its own multi-bank platform.