Citadel Securities named “Interest Rate Derivatives House of the Year” by Risk Magazine

January 27, 2016

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At its annual awards dinner in London, Risk Magazine announced that Citadel Securities has been selected as “Interest Rate Derivatives House of the Year.”

Reflecting the firm’s success as a relative newcomer to the market, Risk described Citadel Securities as “the first outsider to break into this bread-and-butter swaps business.”

A senior trader at a large U.S. asset manager told Risk:

“Citadel has improved the market structure, in terms of people quoting sharp prices and coming back faster. It’s really forced the dealers to move – I really like that aspect. Even when they don’t win, they’ve done a good service to the industry, making sure others compete on the same terms.”

Accepting the award, Paul Hamill, global head of Fixed Income, Currencies and Commodities, credited Citadel Securities’ focus on client-friendly features, including firm pricing and speed.

A derivatives trader interviewed by Risk agreed: “Half the Street will not honour what they’re showing. Citadel is always there. It gives us huge comfort to trade.”

“[Citadel Securities’] combination of size, speed and thin spreads has helped make it the darling of many of the largest derivatives users in the US market – not just hedge funds … but also pension funds, corporates and even government agencies,” the editors of Risk Magazine concluded.

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Citadel Securities’ Yanfeng Chen and Paul Hamill.