White Paper: Enhancing Competition and Innovation in U.S. Financial Markets

The United States has the deepest, most liquid capital markets in the world, fostering groundbreaking companies, technology, and innovation that are vital ingredients to our economic strength. It is incumbent on policymakers to safeguard this national treasure, and thoughtful regulation from the Securities and Exchange Commission is critical to preserving well-functioning capital markets. In this regard, Citadel Securities is proud to consistently advocate for measures designed to enhance market efficiency, resiliency, competition, and transparency.

As the Securities and Exchange Commission reviews financial market regulation, we provide in this White Paper concrete policy recommendations covering the following important markets:

• Equities
• Equity Derivatives
• U.S. Treasuries
• Credit, and
• Digital Assets

Across these diverse asset classes, our recommendations are aimed at:

1. Increasing market competition and transparency, and reducing trading costs for investors;
2. Reducing regulatory inefficiencies and unleashing a new wave of innovation; and
3. Ensuring that critical market infrastructure is secure, resilient, and efficient.

Read the White Paper