Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

Citadel Securities, hedge fund Citadel to open new office in Singapore

Published 08/23/2020, 10:49 PM
Updated 08/23/2020, 10:55 PM
© Reuters. Traders work at the Citadel Securities post on the floor of the NYSE

(Reuters) - Chicago-based hedge fund Citadel and Citadel Securities, which provides trading services to asset managers, banks, broker-dealers and hedge funds, will open a new office in Singapore, Citadel said on Monday.

The two businesses, which have 17 offices across North America, Europe and Asia-Pacific, are also continuing to grow their presence in Hong Kong, according to an emailed statement.

Citadel Securities is expanding its existing footprint in Shanghai and Sydney, the statement added, without mentioning how many new jobs will be created as a result of these steps.

The expansions in Hong Kong and Shanghai comes in the midst of escalating U.S.-China tensions over issues like trade tariffs, sanctions, and a barrage of Washington's actions against China.

Citadel, which managed $34 billion of assets globally as of early July, has operated in the Asia-Pacific region since 2005, while Citadel Securities has operated in the region since 2009.

© Reuters. Traders work at the Citadel Securities post on the floor of the NYSE

The news was reported earlier by Bloomberg, which cited data showing Citadel Securities accounted for about 20% of over $15.5 billion U.S. shares traded in March, when the coronavirus pandemic and a Russia-Saudi Arabia oil price war triggered a market sell off.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.