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Ken Griffin’s Shutdown Playbook Kept Him on Top of Markets

  • Citadel Securities opened a trading floor in Palm Beach
  • Griffin says customers saw ‘close to flawless’ experience
Ken Griffin
Ken GriffinPhotographer: Patrick T. Fallon/Bloomberg
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It took a thousand extra servers, new trenches for fiber-optic lines and a bunch of rooms at the Four Seasons resort in Palm Beach, Florida, for one of the world’s biggest trading shops to cope with the pandemic -- all accomplished in less than a week.

That’s part of how billionaire Ken Griffin’s Citadel Securities has kept humming at a record pace as Covid-19 upends finance, mostly abandoning its New York and Chicago offices and shifting dozens of employees and their families to a work-from-resort bubble. Others are at another emergency facility in Connecticut. The company doesn’t appear to have missed a beat, in March trading 3.3 billion U.S. shares a day and digesting a 90% jump in electronic Treasuries volume even as liquidity dried up in many places.