Citadel Securities ‘expects’ to make US primary dealer bid

Firm has invested to meet Fed’s entry criteria, as it seeks bigger say in ongoing UST market reforms

Matt Culek
Matt Culek, Citadel Securities

Citadel Securities plans to continue expanding into roles traditionally held by banks, by applying to become a primary dealer in the US – one of the select group of firms that can act as a counterparty to the Federal Reserve, and bid in US Treasury auctions.

Among the attractions for Citadel is the chance to have a bigger say in ongoing reforms of the US government bond market.

“We do at this point expect this to be something we will do,” says Matt Culek, the firm’s Chicago-based chief

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