Citadel Securities

Citadel Securities is a technology-driven global market maker that provides liquidity and trade execution across equities, options, futures, credit, currencies, and Treasury bonds. It executes over 20% of all U.S. equity trades by volume and roughly 40% of all U.S. retail equity order flow, making it the largest equity and options market maker in the country. The firm also serves as the largest designated market maker on the New York Stock Exchange and handles more than 45 billion options quotes daily.

Founded in 2002 by Kenneth C. Griffin, Citadel Securities grew out of his broader Citadel organization, which began as a hedge fund in 1990. The market-making unit was spun off to focus exclusively on electronic trading, exiting investment banking in 2011. In 2022, the firm moved its headquarters from Chicago to Miami, with plans for a new base on Brickell Bay Drive. Peng Zhao, who joined in 2006, has been CEO since 2017, leading the company through a period of rapid expansion.

Citadel Securities operates in over 35 countries with offices in New York, London, Hong Kong, Singapore, Tokyo, Sydney, and more. In 2025, the firm generated a record $12.2 billion in trading revenue, up 25% from the previous year, and employs approximately 1,800 people. A landmark outside investment from Sequoia Capital and Paradigm in 2022 valued the firm at $22 billion, widely seen as a step toward a potential IPO. [edit]