Talk:Citadel Securities

Internship program

Hi Ptrnext. I re-wrote the paragraph about the summer internship program. If you feel it is acceptable, I would appreciate if you could add it as a new section called "Summer internship program" directly underneath the "Market maker" section:

Citadel Securities sponsors an 11-week summer internship program in which the interns learn about the company and its operations. In 2022 there were 290 interns in the program. Most were college seniors, and about half were software engineers, while the rest included quantitative researchers and traders.

References

Thanks so much. Cduffymul (talk) 15:30, 7 December 2022 (UTC)

Article restructure.

Hello. I'd like to propose a restructure of the article to include a traditional "History" section, in chronological order. I've created this userspace draft for your convenience, in which I've recategorized the existing content into subsections by decade/year. I've also included the information in the section currently titled "Controversies" in the new History section, as per WP:CSECTION. I made no changes to the original information or sources. Pinging Indefensible who was previously involved in the structure of the article, in case they have any insight.

Thanks for your time, Cduffymul (talk) 16:37, 20 February 2023 (UTC)

Hi Cduffymul, no promises but I will take a look. - Indefensible (talk) 17:35, 20 February 2023 (UTC)

Adding a history section would be good but if the content is just the controversies material then I prefer leaving it the way it currently is because that clarifies the subject and is easier for the reader to understand. - Indefensible (talk) 19:34, 26 February 2023 (UTC)

Hi Indefensible Thanks for looking at the draft. I reviewed the History section and there is a significant amount taken from other sections besides Controversies. I also believe this structure makes it easier to add content in the future and improves the article’s readability, while also conforming to the usual structure of Wikipedia articles about companies. I would be happy to think of more descriptive sub-headers to go along with dates if that is helpful. Please advise. I am happy to work with you on this. Thanks again. Cduffymul (talk) 14:19, 27 February 2023 (UTC)

Go ahead: I have reviewed these proposed changes and suggest that you go ahead and make the proposed changes to the page. Johannes (Talk) (Contribs) (Articles) 15:34, 27 April 2023 (UTC)

Johannes Maximilian, thank you for reviewing my proposed changes and giving me the go ahead. I will now be implementing the changes, given that a few days have passed without any objections from other editors. Thank you! Cduffymul (talk) 20:54, 3 May 2023 (UTC)

Market Manipulation

Citadel Securities has a longstanding history of being charged with, fined for, and accused of market manipulation. Since 2007 the firm has been fined more than $348 Million (cumulative) globally in relation to violation of laws and regulations.

Here are some examples of fines from the SEC:

• SEC Charges Citadel Securities for Violating Order Marking Requirements of Short Sale Regulations. $7 million.

“Compliance with the order marking requirements of Reg SHO is a key component of regulatory efforts to curtail abusive market practices, including ‘naked’ short selling,” said Mark Cave, Associate Director of the SEC’s Division of Enforcement. “This action against Citadel Securities demonstrates that a broker-dealer’s failure to comply with the requirements of Reg SHO can have negative downstream consequences on the accuracy of the firm’s electronic records, including its electronic blue sheet reporting, depriving the Commission of important information about the markets it regulates.”

• Citadel Securities Paying $22 Million for Misleading Clients About Pricing Trades . $22.6 million.

"Citadel Securities made misleading statements suggesting that it would provide or try to get the best prices it saw for retail orders routed by other broker-dealers," said Stephanie Avakian, Acting Director of the SEC Enforcement Division. "Internalizers can't suggest they are doing one thing yet do another when it comes to pricing trades."

• Three Broker-Dealers to Pay More Than $6 Million in Penalties for Providing Deficient Blue Sheet Data $3.5 million.

"Citadel, the largest provider of blue sheet data of the firms charged today, submitted incorrect data for nearly 80 million trades . . . None of the firms had adequate processes designed to validate the accuracy of its submissions . . . The SEC’s orders also found that Citadel, Natixis, and MUFG willfully violated the broker-dealer books and records and reporting provisions. The firms admitted the findings in the SEC’s cease and desist orders and agreed to be censured and to pay penalties"

Please note the above list is not an exhaustive list of fines Citadel Securities has paid to the SEC. For further information see the SEC website. Atolson1 (talk) 22:45, 5 December 2023 (UTC)

References

I think this content is vitally important to any readers who come to this article as it will help them to understand that Citadel Securities has been charged, fined, and accused of market manipulation many, many times in recent years. I am not sure if InvestorTurf is a wikipedia allowed website source. Do you happen to have any other sources where this information is available? The SEC.gov links are great source documents and I think they provide great context around the allegations, charges, and fines. Alecmvqb (talk) 22:54, 5 December 2023 (UTC)

I have indeffed Alecmvqb (talk · contribs) per WP:DUCK. Johnuniq (talk) 23:08, 5 December 2023 (UTC)

Updates to Intro and History sections

Hi. I would like to request that the following edits be made as updates to the "Introduction" and "History" sections:

• Citadel has moved its headquarters to Miami. Please change the last sentence in the "Introduction" to reflect that this event is in the past, as follows:

Citadel Securities moved its headquarters from Chicago to Miami with plans to build a new headquarters on Brickell Bay Drive.

• At the end of the "2020" section in "History" please add the following update:

In 2020, Citadel Securities began selling US Treasury and dollar interest rate swap products in Hong Kong.

• In the "2022-2023" section, please add the following four sentences as updates in chronological order (Right between the two paragraphs that are in that section now):

In 2022, the company opened a new office in Japan.

By the end of 2022 Citadel Securities traded in over 35 countries and executed more than 20 percent of all US equity trades. The firm also trades futures, options, currencies and Treasury bonds.

As of February 2023, the Hong Kong based subsidiary of Citadel Securities was designated as a "qualified foreign institutional investor" or QFII, by the Chinese government, giving the company more access to mainland China's bond and stock markets.

In June 2023, Citadel Securities became active in corporate debt trading and introduced investment-grade trading to clients.

References

Thanks so much. Cduffymul (talk) 15:31, 6 February 2024 (UTC)

 Done Encoded Talk to me! 16:17, 10 February 2024 (UTC)

Thanks so much Encoded for implementing this edit request. I wonder if you wouldn’t mind taking a look at another edit request I recently posted for Kenneth C. Griffin here: Talk:Kenneth_C._Griffin#Add_to_Philanthropy. Could you please implement if you agree with the edits? Thanks again. Cduffymul (talk) 14:11, 12 February 2024 (UTC)