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Citadel Puts Clout Behind Effort to Safeguard U.S. Treasuries

  • Hedge fund first to clear Treasuries on revamped DTCC platform
  • New program makes market safer and sounder, Citadel exec says
Ken Griffin
Ken GriffinPhotographer: Patrick T. Fallon/Bloomberg

Ken Griffin’s $32 billion hedge fund is backing efforts to make the Treasury market safer and sounder through the backstop of a central clearinghouse.

Citadel last month became the first firm to clear both a Treasury and repurchase agreement through a new Depository Trust & Clearing Corp. platform. In March, DTCC changed its rules so more companies like Citadel that aren’t members of its clearinghouse can get trades processed there by going through a member firm.