Citadel Securities Expands Leading DMM Business

Citadel Securities has closed its previously-announced acquisition of IMC’s Designated Market Making (DMM) business.

As a result of the transaction, Citadel Securities now serves as DMM for 500 additional securities, reinforcing its position as the largest DMM on the NYSE both by number of securities and by market cap.

“This is an important milestone in the continued growth of our DMM business,” said Joe Mecane, Head of Execution Services for Citadel Securities. “We are thrilled to extend the benefits of our liquidity and exceptional client service model to an even broader group of NYSE-listed issuers as a result of this transaction.”

Citadel Securities has been a DMM on the NYSE since 2016, supporting capital formation and the growth of NYSE-listed companies by providing best-in-class execution quality to the market and client service to issuers. In addition to overseeing daily trading in more than 2,000 NYSE-listed securities, the firm also regularly supports IPOs and direct listings, including the groundbreaking listing of Spotify in 2018.

This is the latest milestone for our DMM business, which has been widely recognized in recent years for its role in helping companies enter the public markets through direct listings. Earlier this year, the team was recognized by Fast Company—and included on its prestigious annual list of the World’s Most Innovative Companies—for delivering on the promise of direct listings.

Check out the graphic below for key DMM stats.