"Citigroup, one of the largest dealers in the $6.6 trillion-a-day foreign exchange market, has confirmed it is severing ties with nearly two-thirds of the trading platforms it uses as part of an effort to cut costs. Citi expects to save millions of dollars as a result. Citi's move comes after years of shrinking margins and growing complexity in currency trading, with banks spending increasing amounts on linking their own systems to those of third-party platforms."