Citadel Securities joins LCH.Clearnet’s SwapClear as first non-bank member

Citadel Securities, an international market-maker across the equities, futures, options, treasuries, FX and swaps markets, today announced that Citadel Securities (Europe) Limited has joined interest rate derivatives clearing service LCH.Clearnet’s SwapClear as its first non-bank clearing member.

Citadel Securities becoming the first non-bank clearing member of SwapClear comes after the recent launch of the firm’s European fixed income market-making operations in Euro swaps and providing U.S. government bond liquidity directly to institutional investors over Bloomberg.

Paul Hamill, Global Head of FICC for Citadel Securities, said, “Joining LCH.Clearnet as the first non-bank member on SwapClear marks an important milestone in the evolution of our fixed income market-making business, and the swaps market overall. We are grateful to LCH.Clearnet for their partnership, and are proud to represent one of the few sources bringing much needed additional liquidity to the market. We see strong demand from investors for our model of providing firm, consistent liquidity in large size and in all markets. Becoming a self-clearer further strengthens the foundation of the business and our commitment to the swaps market.”

Unknown-1Daniel Maguire, Global Head of SwapClear & Listed Rates, LCH.Clearnet, said: “We are pleased to welcome Citadel Securities as a direct member of SwapClear and we look forward to working in partnership with them in their global clearing activities.”

Citadel Securities, through its Citadel Institutional Solutions group, offers market-making and innovative liquidity solutions to institutional clients across fixed income cash and derivative products. Since the launch of an interest rate swaps market-making business about a year ago, Citadel Securities has become a major provider of liquidity to the interdealer market, and has become the #1 market maker in USD swaps by volume on the largest dealer-to-client SEF venue operated by Bloomberg L.P.

To view the official announcement from Citadel Securities, click here.

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