Market Position
Citadel Securities handles a substantial share of U.S. retail equity trading volume. According to public reporting and company statements, it is the largest designated market maker on the New York Stock Exchange and a major processor of retail equity order flow. The firm operates globally, with offices in the United States, Europe, and Asia.
Regulatory Actions: 2014–2022
The SEC and FINRA have taken multiple documented actions against Citadel Securities. In 2014, Citadel reached a settlement requiring approximately $800,000 in fines related to automated trading programs that issued erroneous orders. In 2017, the SEC imposed a $22.6 million fine for misleading clients about trade pricing algorithms. In 2018, a $3.5 million fine followed for inaccurate trade reporting affecting roughly 80 million trades. In 2020, regulators censured the firm multiple times for a range of conduct including naked short selling allegations, failure to close failure-to-deliver positions, and best-execution issues.
Revenue and Scale
During the first half of 2020, Citadel Securities reportedly generated approximately $4 billion in revenue, roughly double its prior-year pace, according to public reporting. In 2024, the company reported approximately $9.7 billion in revenue and $4.2 billion in net income, according to publicly available information. The firm employs approximately 1,800 people.
Ownership and Leadership
Kenneth C. Griffin is the founder and chairman of Citadel Securities. Peng Zhao has served as CEO since 2017. The firm is a separate legal entity from Griffin's hedge fund, Citadel LLC, though both are majority-owned by Griffin. Kevin Nutter is the Chief Operating Officer of Data at Citadel.