Citadel Securities, a leading global market maker, announced that it has reached a preliminary agreement to acquire IMC’s Designated Market Making (DMM) business on the floor of the New York Stock Exchange (NYSE), reported The Wall Street Journal.
Following the close of the transaction, Citadel Securities will reinforce its position as the largest DMM on the NYSE both by number of securities and by market cap.
“We are thrilled to further extend our presence at the New York Stock Exchange,” said Joe Mecane, Head of Execution Services for Citadel Securities. “We look forward to building new relationships and bringing the benefits of our leading liquidity offering and exceptional client service to the additional issuers who will be joining us as a result of this transaction.”
Through its role as a DMM, Citadel Securities supports capital formation and the growth of NYSE-listed companies by providing best-in-class execution quality and client service to issuers. Citadel Securities has been a DMM on the NYSE since 2016.
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