Citadel Securities

Name

Citadel Securities

Legal name

Citadel Enterprise Americas LLC

Website

https://citadelsecurities.com

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

Capital Markets / Market Making

NAICS

Investment Banking and Securities Intermediation (523150), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Other Financial Investment Activities (5239)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Equity Prime Brokerage (Custody, Financing & Services) (FSACAFAB)

akta.pro secondary industries

Securities Borrowing & Lending (Equities/Bonds) (FSACAIAC), Securities Lending & Collateral Management (Custodian-Led) (FSAFAHAC), Margin Trading & Collateralized Borrowing (Exchange-Operated) (FSADAAAL)

Keywords

• Equities market making
• Options market making
• Fixed income trading
• Liquidity provision services
• Foreign exchange market making

Headquarters

HQ city

Miami

HQ country

United States

HQ region

North America

Offices14 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Others

Revenue model

1. Market Making - Bid-Ask Spread: Market makers provide two-way quotes and earn the spread between bid and ask prices. Citadel Securities competes with other market makers to deliver better outcomes for investors while generating revenue from accurate pricing and execution at scale.
2. Price Improvement for Retail Investors: For retail equity investors, market makers regularly offer a better price on securities than public exchanges, generating revenue while saving investors money (over $1.4 billion saved in 2021 alone)
3. Designated Market Maker Services: Provides principal liquidity as NYSE's leading Designated Market Maker for ~62% of all NYSE listings, supporting orderly trading of securities for corporate issuers
4. Retail Broker Execution: Executes retail order flow for hundreds of broker-dealer clients, handling approximately 35% of total U.S. retail market volume
5. Corporate Solutions - Valuation Metrics: Provides predictive analytics to help corporate issuers understand how institutional investors make decisions, enabling focused and effective investor targeting

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Citadel Securities is a next-generation global market maker that provides two-way liquidity in equities, options, fixed income, and FX markets using proprietary, low-latency electronic trading technology combined with quantitative research and machine learning. The firm executes approximately $836 billion in notional volume daily across more than 50 markets and serves over 1,600 institutional clients globally, including sovereign wealth funds, central banks, hedge funds, asset managers, pensions, broker-dealers, and corporate issuers. Revenue is generated from bid-ask spreads, principal market-making activities, and corporate analytics services.

Product overview

Citadel Securities operates as a next-generation global market maker providing liquidity across equities, options, fixed income, and foreign exchange markets. The firm offers a unified platform combining proprietary trading technology, quantitative research, and market-making expertise. Core products include equities and options execution services (handling approximately 24% and 30% of U.S. market volume respectively), Fixed Income & FX trading across 50+ markets, and NYSE Designated Market Maker services covering 62% of NYSE listings. The company co-founded MEMX exchange and offers supplementary tools including Bullseye and Instant Trader electronic trading platforms, plus Valuation Metrics corporate analytics. The architecture combines institutional high-touch services with electronic algorithmic offerings, serving over 1,600 institutional clients globally.

Differentiator

Problem solved

Functional benefit

Brands

• Valuation Metrics: A Citadel Securities Corporate Solutions offering that provides predictive analytics to help corporate issuers understand and target institutional investors.
• MEMX

Products and services

• Equities Trading Comprehensive equities liquidity provision and execution services including sourcing liquidity, executing small and large orders, and serving corporate clients through exchange market-making programs. Handles approximately 24% of U.S. equity market volume for institutional and retail clients.
• Options Trading Leading liquidity provider across the options ecosystem, combining advanced technology and deep markets expertise. Serves approximately 30% of U.S. consolidated equity options volume and is the #1 retail market maker executing over 35% of U.S.-listed retail volume.
• Fixed Income & FX Market making in global fixed income and currency markets across 50+ markets, including interest rate swaps, U.S. Treasuries, European rates, and foreign exchange. Serves over 1,300 clients including central banks and sovereign wealth funds.
• NYSE Designated Market Maker (DMM) NYSE Designated Market Maker services providing principal liquidity in listed stocks, representing approximately 62% of all NYSE listings. Offers critical market intelligence and promotes orderly trading for corporate issuers during IPOs and ongoing market operations.
• MEMX (Members Exchange) An all-electronic U.S. equities exchange co-founded by Citadel Securities and other member firms, providing electronic trading with modern technology infrastructure.
• Valuation Metrics (Corporate Solutions) Corporate Solutions product providing predictive analytics to help corporate issuers identify institutional investors likely to buy or retain shares, enabling focused and effective investor targeting.

Quantifiable outcome

• Saved retail investors over $1.4 billion through price improvement in 2021
• +4 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature7 records

Partnerships

14 partnerships are on record, tiered core and minor.

• BloombergcoreTechnology or Integration · 15 June 2026Citadel Securities partnered with Bloomberg since the inception of its ETF trading solutions including RFQe secondary market platform and Strategy Optimizer, helping shape the solution and support improved transaction costs for investors.
• Digital AssetcoreStrategic or Co-development Partner · 12 June 2026Citadel Securities participated in Digital Asset's $355 million funding round led by a16z crypto for the Canton Network blockchain platform. The partnership supports institutional blockchain adoption and on-chain capital markets infrastructure.
• Canton NetworkcoreStrategic or Co-development Partner · 12 June 2026Citadel Securities joined the Canton Network ecosystem as a participant, supporting the blockchain platform for regulated financial institutions to issue and trade tokenized real-world assets while maintaining privacy and compliance.
• HSBCcoreStrategic or Co-development Partner · 11 June 2026HSBC participated in Digital Asset's $355 million funding round and is integrating with Canton Network for tokenization, collateral mobility, settlement, and payments.
• BNP ParibascoreStrategic or Co-development Partner · 11 June 2026BNP Paribas participated in Digital Asset's $355 million funding round and is integrating with Canton Network for institutional tokenization.
• Hong Kong Talent PoolminorOthers · 21 May 2026Citadel Securities is expanding hiring in Asia with nearly half of its 60+ Asian hires based in Hong Kong, leveraging Hong Kong as its largest regional office.
• Millennium IndiaminorOthers · 29 April 2026Citadel Securities hired former Millennium India CEO Prakash Subramanian K V as country head of India and Singapore, supporting expansion in Asia.
• GooglecoreTechnology or Integration · 22 April 2026Citadel Securities uses Google TPUs for AI workloads, reporting up to four times faster performance and 30% lower costs compared to alternatives. The firm is an early adopter of Google's custom AI chips.
• EDX MarketscoreStrategic or Co-development Partner · 1 April 2026EDX Markets, backed by Citadel Securities, Charles Schwab, and Fidelity Digital Assets, applied for a national trust bank charter from the OCC to provide digital asset custody and trading services for institutional clients.
• TradewebcoreTechnology or Integration · 26 March 2026Citadel Securities participated in Tradeweb's first real-time full-chain US Treasury bond financing using USDC, alongside Bank of America and Virtu Financial.
• DTCCcoreTechnology or Integration · 26 March 2026Citadel Securities is participating with major financial institutions including BlackRock, Goldman Sachs, and Bank of America in DTCC's tokenized securities trading launch covering $114 trillion in custodied assets.
• NYSEcoreStrategic or Co-development Partner · 26 March 2026NYSE launched a 24/7 on-chain trading platform in January 2026 partnering with BNY and Citigroup, representing infrastructure modernization for capital markets.
• Bank of AmericacoreStrategic or Co-development Partner · 26 March 2026Bank of America participated in Tradeweb's USDC Treasury bond financing and DTCC tokenization initiatives alongside Citadel Securities.
• MEMXcoreStrategic or Co-development Partner · 1 November 2022Citadel Securities co-founded MEMX, an all-electronic equities exchange leveraging industry-leading technology. In just over two years, MEMX reached 6.5% market share excluding TRF with average daily notional volume of $18.7 billion.

Scale indicators15 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Virtu Financial: Virtu Financial is a leading global market maker and execution services provider competing directly with Citadel Securities across equities, options, and fixed income. Both firms are publicly/founder-controlled, technology-driven market makers serving institutional and retail broker-dealer clients.
• Jump Trading: Jump Trading is a proprietary trading and market making firm operating across global equities, futures, options, and crypto markets. Like Citadel Securities, it leverages quantitative strategies and low-latency technology to provide liquidity to institutional clients.
• Susquehanna International Group (SIG): SIG is a global quantitative trading firm with major options market making operations, competing directly with Citadel Securities in U.S. equity options. Both firms employ significant PhD-level quantitative talent and serve institutional and retail clients.
• Hudson River Trading: HRT is a quantitative trading firm and major market maker across global equities, futures, options, and ETFs. It competes with Citadel Securities using similar mathematical and computational approaches to liquidity provision across asset classes.
• IMC Financial Markets: IMC is a global proprietary trading firm and market maker operating across equities, options, fixed income, and digital assets. It directly competes with Citadel Securities in providing institutional liquidity globally, with strong technology-driven execution.
• Jane Street: Jane Street is a global market maker and liquidity provider specializing in ETFs, equities, and fixed income. It competes with Citadel Securities in U.S. ETF market making and retail broker execution services, particularly in options and ETF arbitrage.
• Two Sigma Securities: Two Sigma Securities is the market making arm of Two Sigma, providing liquidity in equities and ETFs. It competes with Citadel Securities in U.S. equity market making with similar quantitative technology-driven approaches.
• Optiver: Optiver is a global proprietary trading firm and market maker specializing in derivatives, options, and equities. It directly competes with Citadel Securities in U.S. options market making and global equity options liquidity provision.

Broad incumbents

• Goldman Sachs (Global Markets): Goldman Sachs operates one of the world's largest market making franchises as part of its Global Markets division, providing liquidity in equities, fixed income, currencies, and commodities. As a broad incumbent, it competes with Citadel Securities across multiple asset classes while offering full investment banking and prime brokerage services.

Emerging players

• EDX Markets: EDX Markets is a digital asset exchange backed by Citadel Securities, Charles Schwab, and Fidelity Digital Assets, applying for a national trust bank charter. It represents an emerging player in institutional crypto trading where Citadel Securities is positioning itself as both owner and liquidity provider.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/citsecurities
• Facebookfacebook.com/citadelsecurities
• LinkedInlinkedin.com/company/citadel-securities

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments19 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Citadel Securities