Ken Griffin has for years been one of the wealthiest people on the planet thanks to his hedge fund’s success. Now it’s his powerhouse market maker that’s driving the bulk of his fortune to new heights.
Once overshadowed by the hedge fund business in Griffin’s financial empire, Citadel Securities has become a dominant force on Wall Street and is responsible for most of Griffin’s almost $US20 billion increase in wealth over the past three years.
The firm remains the largest provider of payment-for-order-flow fees. Regulations governing the practice are currently being reviewed by the US Securities and Exchange Commission, with Chair Gary Gensler signaling that banning the arrangements could be on the table.Citadel Securities began operation as a broker-dealer in 2002, making markets in equities and options.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.