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.
The full article is available at https://www.risk.net/derivatives/7934171/citadel-securities-expects-to-make-us-primary-dealer-bid