Citadel Securities Strengthens Position With Morgan Stanley Deal

Citadel Securities bought the unit of Morgan Stanley that’s focused on electronic market-making for US equity options, a move that further cements the firm’s dominant role in the popular derivatives.

The deal will likely bolster Citadel Securities as an options market maker, filling orders both electronically and on trading floors. Similar to a designated market maker for stocks, a specialist in options is approved by an exchange and required to quote buy and sell prices beyond the normal requirements of a registered market maker.