Citadel Securities Intends to Launch Its Own Brokerage Business in China

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As one of the largest market makers in the United States, Citadel Securities’ core strength lies in its advanced algorithms

Citadel Securities, the American market maker, is considering setting up a wholly owned securities firm in China to expand its business presence in the country, people familiar with the matter told Caixin.

Citadel Securities intends to file the application with China’s securities regulator to create the new firm by the end of the year, sources said.

The company plans to initially apply for licenses to run brokerage, asset management and proprietary trading businesses and locate its China headquarters in Shanghai, Caixin has learne,.

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Citadel Securities plans to establish a wholly owned securities firm in China by year-end, applying for brokerage, asset management, and proprietary trading licenses, focusing on institutional clients and excluding retail brokerage and investment banking.
The firm seeks to leverage its algorithmic trading strengths for efficient trade execution and cost reduction, while actively pursuing a market-making license in China.
Citadel Securities is led by Tang Xiaodong in China and has recently gained QFII status to participate in the A-share market.

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What Happened When

February 2023：: Citadel Securities gained Qualified Foreign Institutional Investor (QFII) status and is now participating in the A-share market through the Shanghai and Shenzhen Stock Connect programs.

Earlier this year 2024：: Citadel Securities entered talks with UBS Group AG to acquire Credit Suisse’s China venture but was outbid by a Beijing-backed fund.

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