Chicago-based hedge fund, Citadel, a key investor in the world’s major financial markets, is reported to be in talks to buy Citigroup’s Automated Trading Desk (ATD), an electronic market-maker, as it seeks to broaden its sizeable market-making operations, according to sources.
If Citigroup parts with Automated Trading Desk, it will be the latest bank to retreat from market making.
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No sale price or valuation has been disclosed for ATD, which was acquired by Citigroup for $680 million ... (read more)