Citadel Securities making markets in Treasuries on Tradeweb


By Dan Barnes.

Citadel Securities has become a liquidity provider on the Tradeweb institutional US Treasury marketplace, for dealer-to-client trading. Citadel Securities’ expansion into Tradeweb’s US Treasuries market adds to its existing market-making role on Tradeweb in interest rate swaps, credit default swap indices, and US exchange-traded funds.

“Joining the Tradeweb Treasury platform is a natural strategic development for our business”, said Paul Hamill, global head of Fixed Income, Currencies and Commodities at Citadel Securities. “We continue to expand our fixed income client franchise, most recently adding off-the-run Treasuries, and remain committed to providing our clients with excellent service and fully firm liquidity across the curve.”

Citadel already makes markets on the Bloomberg dealer-to-client platform, which it joined in October 2015. Asset manager PIMCO, which uses Citadel as a counterparty for a ‘large chunk’ of its swaps business is rumoured to be considering a move from the Bloomberg Treasuries platform onto Tradeweb, according to a report in the Financial Times.