Citadel shut out of Tradeweb as it makes US Treasury move

Firm is first non-bank on Bloomberg, but primary dealer catch means it cannot join Tradeweb

no-entry
Citadel blocked from signing up as a US Treasury market-maker on Tradeweb

Citadel Securities is set to start quoting US Treasuries on Bloomberg's dealer-to-client trading platform this week but has been blocked from doing so on Tradeweb, thanks to a closely guarded rule book that is said to bar any firm from joining the bank-owned platform unless it is a primary dealer. That stipulation has raised Citadel's ire, but it's understood the firm will – sooner or later – be allowed to join.

Paul Hamill, global head of fixed income, currencies and commodities at Citadel Secu

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: