Citadel Securities Hits Record $4.3 Billion Q1 Revenue as Iran War and AI Jolt Markets
Updated
Updated · Financial Times · May 29
Citadel Securities Hits Record $4.3 Billion Q1 Revenue as Iran War and AI Jolt Markets
3 articles · Updated · Financial Times · May 29
Summary
Citadel Securities generated a record $4.3 billion in first-quarter trading revenue and $1.9 billion in net income, according to people familiar with the matter.
Iran war-driven swings in oil and Treasury markets, along with AI-fuelled volatility in US stocks, created the price dislocations that market makers profit from.
About $27 billion in combined Q1 trading revenue was booked by Citadel Securities, Jane Street and Hudson River Trading, with Jane Street alone reaching $16.1 billion.
Roughly 25% of US equities volume runs through Citadel Securities, which is also pushing further into high-touch equity trading after hiring JPMorgan executive Elan Luger.
That expansion pits the Ken Griffin-owned market maker more directly against banks even as trading firms and Wall Street desks alike cash in on unusually turbulent markets.