Deals
Citadel Buys Assets From Citigroup Trading Pioneer ATD
- Goldman Sachs, Bank of America have exited similar businesses
- Citigroup acquired ATD for about $680 million in 2007
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Citadel Securities agreed to buy a stock-trading business from Citigroup Inc., the latest bank to retreat from equity market making.
Citadel is acquiring the equity-trading operations of Citigroup’s Automated Trading Desk division, one of the pioneers of high-frequency trading. Terms of the deal weren’t disclosed in a statement released Monday. Bloomberg first reported last week that Citadel was in negotiations for ATD, which Citigroup bought for about $680 million in 2007.