Citadel Securities Remains Committed To Human Trading

The market making firm Citadel Securities is the New York Stock Exchange’s largest designated market maker (DMM), and the massive electronic trading firm has made an effort to expand. DMMs are the market makers that have been chosen for specific securities, and they oversee the buying and selling of stocks or other securities as well as maintaining quotes and keeping up fair and orderly markets. As tech has taken over a lot of financial markets, Citadel remains in the business of human trading, and their market share has kept increasing. In 2016 they got their trading business, and over 1,400 securities are now listed under them, with huge corporations such as Walmart and Coca Cola among them. 

DMMs are required to keep a well-running market, and IPOs, trading day openings, and other complicated operations require them to keep order.  Since they have begun, Citadel has gone up 71 positions, the largest incline that any NYSE trading company has ever seen. They oversee direct listings, IPOs, SPACs, and more, and they have a 44% win-rate. With a 50% win rate in 2018, they are winning listings faster than before, and some of their much-publicized listings were the IPO of AX A, the insurance firm, as well as the direct listing of Spotify. They haven’t gotten huge fees from these, but rather they have been able to get into the market for share buybacks, with approximately $800 billion in value.