Citadel Securities Posts Record $7.5 Billion Revenue in 2022

Citadel Securities, one of the largest market makers in US stocks and options, raked in a record $7.5 billion in 2022. 

Revenue for the market-making arm of billionaire Ken Griffin's Citadel empire jumped 7.1% from the previous year's $7 billion. Citadel Securities has posted 12 consecutive quarters of net trading revenue in excess of $1 billion. The firm handles about 40% of all US retail trading volume and one in every four US equities trades and also serves more than 1,600 institutional clients, including sovereign wealth funds and central banks.

The full-year results follow a record first half of 2022, which brought $4.2 billion in net trading revenue amid wild swings in markets including stocks, Treasuries and derivatives. One of the world's largest trading firms, Citadel Securities ramped up market-making outside the US and expanded in Treasuries and rate swaps including Tokyo.

Both equities and fixed income fueled the trading growth, with the firm making more investments in technology and talent to support growing client demand. Citadel Securities trades in more than 35 countries and is responsible for executing over 20% of equity orders.

Griffin's flagship hedge fund — operated separately by Citadel's investment management business — also posted big gains last year, jumping 38% thanks to strong performance in everything from equities to commodities.

Source: Bloomberg