Citadel Securities Crafts Plan to Shake Up Banks’ Trading Desks
Nascent strategy would have firms deal with their clients, while market-maker handles the behind-the-scenes mechanics
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Inside Ken Griffin’s Citadel Securities, a new strategy for handling even more of Wall Street’s trading is starting to take shape — with implications for struggling banks and brokerages around the world.
The goal is to offer such firms a white-label trading service: They would deal with customers while Citadel Securities manages the guts of their trading desks, including technology, analytics and order execution.