Deals
Citadel Said in Talks to Buy Citigroup Electronic Trading Unit
- Talks come amid bank departure from wholesale market-making
- Citadel, KCG dominate the industry, according to Finra data
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Citadel Securities is in talks to buy Citigroup Inc.’s electronic market-making unit Automated Trading Desk, according to people familiar with the matter.
The people, who asked not to be named because the talks are private, didn’t disclose a potential sale price. Negotiations are still in flux and a deal could fall apart. Citigroup purchased Automated Trading Desk for about $680 million in 2007.