The 2020 misadventures of Citadel - a memoir:
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Citadel begins the year by settling a Chinese trading probe for $97M:https://www.ft.com/content/16cee174-3b7f-11ea-b232-000f4477fbca …
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Citadel can settle lawsuits, but they can dish them out too - including a competitor for allegedly stealing a proprietary trading strategy:https://www.ft.com/content/2cbf1738-33cd-11ea-9703-eea0cae3f0de …
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They make options trading a top priority at the perfect time - in February 2020, just before the market explodes:https://www.bloomberg.com/news/articles/2020-02-25/citadel-securities-expands-an-already-dominant-options-business …
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When COVID hits, Citadel quarantines its top traders in a Florida hotel to work through the pandemic:https://www.nytimes.com/2020/04/07/us/coronavirus-citadel-securities-four-seasons-florida.html …
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The quarantine works - Citadel makes *billions* trading through the chaos as markets puke in March:https://www.ft.com/content/4a439398-88ab-442a-9927-e743a3ff609b …
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The pandemic is a "dream" for Ken Griffin who grows his wealth to a staggering $20 billion:https://www.bloomberg.com/news/articles/2020-11-02/ken-griffin-s-macro-dream-propels-his-net-worth-to-20-billion …
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The good times can't last forever - Citadel is fined for trading ahead of client orders over a two year period:https://www.ft.com/content/dc3f8fb5-62e7-4774-98bb-28db801589ee …
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Fines or no fines, the profits keep rolling as options trading booms & market volatility continues into the US elections:https://www.bloomberg.com/news/articles/2020-09-25/citadel-doubled-profit-increased-dominance-in-wild-2020-trading …
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Citadel makes a rival buy in October - buying fellow floor broker IMC in October:https://www.pionline.com/trading/citadel-securities-buy-nyse-market-making-unit-imc …
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Ken Griffin donates to Kelly Loeffler's campaign around the time the NYSE needs to approve the IMC deal, raising conflict of interest concerns:https://www.salon.com/2020/12/17/this-hedge-fund-billionaire-is-a-huge-fan-of-sen-kelly-loeffler--but-why/ …
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Meanwhile, Robinhood is fined big bucks for hiding the true nature of its activities selling order flow to, among others, Citadel:https://www.wsj.com/articles/robinhood-to-pay-65-million-to-settle-sec-probe-11608213680 …
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Citadel takes stakes in multiple upstart exchanges, including MEMX, MIAX PEARL, and the Small Exchange:pic.twitter.com/P7GCUhlEmY
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Quite a ride for Citadel in 2020 - next year looks to be just as promising for the marker maker that seems to be everywhere these days. FIN
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