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Citadel buys Citi automated trading desk assets

First Published 17th May 2016

Citadel Securities expands business by buying automated equity market making assets of Citigroup subsidiary, Automated Trading Desk Financial Services.

New York - Citadel Securities has acquired certain assets of Automated Trading Desk Financial Services, the automated equities market making business, from Citi.

The addition of these ATD assets is the latest step in the expansion of Citadel Securities. The transaction aims to enhance Citadel Securities' position, help the firm provide retail investors with access to additional liquidity and offer improved execution quality to more clients.

"This acquisition supports the growth of our industry-leading equities business and reflects our commitment to leveraging our global footprint, cutting-edge technology and trading expertise to meet the diverse needs of our clients as traditional providers continue to exit this space," said Jamil Nazarali, Head of Citadel Execution Services.

The acquisition follows the recent announcement of Citadel Securities' purchase of KCG Holding's Designated Market Maker business at the New York Stock Exchange.

Citadel Securities has partnered with ATD and Citi to transition clients to its platform.