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Citadel Securities to trade US Treasuries on Tradeweb
15 March 2017
Bloomberg and Tradeweb dominate e-trading of US Treasuries between investors and dealers
Chicago-based broker dealer Citadel Securities will begin
trading US government bonds on electronic venue Tradeweb.
The move comes as non-banks, such as Citadel Securities,
continue to extend their reach into Treasury trading while
banks continue to pull back as new regulations increase the
cost of trading.
Citadel Securities already trades derivatives such as
interest rate swaps and credit default swaps on
However, the firm is going head-to-head with traditional
bank dealers operating in the US bond market.
Up until now Citadel Securities' US Treasury activities took
place via Bloomberg’s trading venue.
Bloomberg and Tradeweb dominate e-trading of US Treasuries
between investors and dealers.
About $500 billion of Treasuries trade each day, according
to the Securities Industry and Financial Markets
"Citadel Securities is an exciting addition to the Tradeweb
US Treasury marketplace, helping enhance and increase access to
liquidity for institutional investors," said Billy Hult,
president of Tradeweb Markets.
Paul Hamill, global head of fixed income, currencies and
commodities at Citadel Securities, added: "Joining the Tradeweb
Treasury platform is a natural strategic development for our
"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."