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Citadel Quadruples Currency Trading as Brexit Spurs Volume Surge

  • FX volatility seen sticking around in aftermath of U.K. vote
  • FastMatch volume surged to record; Hotspot turnover climbed

Citadel Securities LLC says it traded record currency volume last week after the U.K.’s Brexit vote sent shock waves through financial markets. The company expects more volatility to come.

The market-making arm of money manager and securities firm Citadel LLC said its foreign-exchange activity on June 24 surged to more than four and a half times the firm’s daily average this year. The Chicago-based company declined to provide a dollar figure. The U.K. vote to leave the European Union also led to a surge in volume across trading venues run by Thomson Reuters Corp., Bats Global Markets Inc. and FastMatch Inc. as the pound tumbled to a three-decade low.