Citigroup has claimed it is set to become the first bank to ensure its fund management customers best execution by offering them the ability to scour markets through a range of vendor systems, ahead of new trading rules due to come into force next week.

The launch of Citigroup's new equity order routing service is timed to coincide with the European Commission's markets in financial instruments directive, which takes effect from November 1. According to the US investment bank, the service will ensure best execution for customers, a key requirement under Mifid, by allowing them to trade across several execution venues simultaneously.