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Ken Griffin’s money machine: market maker Citadel Securities

Financial Times LogoFinancial Times3d ago

Ken Griffin’s money machine: market maker Citadel Securities - Financial Times

Quick Summary:

The European business of Citadel Securities made almost $461mn in trading income that year, filings show: a feat that it would not repeat in the next decade.

That year was a moment of divergence for Griffin’s two firms: a near-death experience for the hedge fund and a stellar year for Citadel Securities which was spun out, as investment banks retreated, liquidity vanished and volatility soared, allowing market-makers to collect a huge premium for their services in the panic.

Nonetheless, as the firm has grown, so has its potential impact on the wider financial system — not least because Citadel Securities and its peers use banks to facilitate derivatives trading.

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Article Details

Author / Journalist: Harriet Agnew

Category: MarketsFinanceInvesting

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-03 @ 05:00:01 (3 days ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Readers: 59 people read this story

Article Length: 2817 words

Reading Time: 16 minutes read

Sentences: 103 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 23374936

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Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 10 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 8 hours ago

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Publisher ID: #3

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