As a Remote Streaming Quote Trader, Citadel can generate and submit option quotations electronically from off the floor of the Exchange in options classes allocated to them. Citadel Derivatives Group LLC initially will be trading customer order flow in more than 200 issues.
" We are excited about the Philadelphia Stock Exchange’s move towards electronic trading,” said Matt Andresen, Co-Head of Citadel Derivatives Group. “As one of the leading market makers in U.S. listed options, Citadel looks forward to actively quoting up to 600 issues on the PHLX."
RSQT is another expansion to PHLX XL, the Exchange’s electronic options trading system that was launched in 2003. The new enhancement to PHLX XL will increase the Exchange’s capacity to improve electronic access for customers, broker dealers and market makers while maintaining the advantages of a floor-based environment.
"We are pleased to welcome Citadel as the first remote market making firm to the PHLX marketplace," said PHLX Chairman and CEO, Meyer “Sandy” Frucher. “As one of the largest players in the derivatives industry, we expect that Citadel will substantially enhance the depth and liquidity PHLX XL offers. Citadel’s commitment to the PHLX reflects the strength of our technology and the competitively favorable cost of access to the Exchange." About Citadel Investment Group, L.L.C.
Citadel Investment Group, L.L.C. and its affiliates provide investment management and related services. The firm, founded in 1990, has over $11 billion under management and approximately 1000 employees worldwide.
Citadel Derivatives Group LLC is an affiliate of Citadel Investment Group, L.L.C. and one of the leading market-makers in listed options in the United States.
