Ken Griffin’s money machine: market maker Citadel Securities

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The story "Ken Griffin’s money machine: market maker Citadel Securities" was covered 2 weeks ago by Financial Times, a news publisher based in United States.

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Financial Times 2w 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.