Institutional Market Maker
Citadel LLC
Citadel is a leading global financial institution comprising Citadel (the multi-strategy hedge fund) and Citadel Securities, one of the world's largest market makers in equities and options.
- Headquarters
- Miami, USA
- Founded
- 1990
- Funding model
- Bank / Institutional
- Region served
- North America
Community rating
Loading…
At a glance
Structured facts about this firm
- Firm Type
- Institutional market maker (Citadel Securities) and multi-strategy hedge fund (Citadel)
- Market Focus
- US and global equities, equity options, treasuries, FX and futures
- Trading Style
- High-frequency market making, systematic and discretionary multi-strategy investing
- Institutional Level
- Tier 1 — systemically important liquidity provider
- Retail Accessibility
- Not directly accessible; retail orders are routed to Citadel Securities via brokers
- Geography
- Global — headquartered in Miami, with hubs in Chicago, New York, London and Hong Kong
- Known For
- Executing a large share of US retail equity volume and dominant US options market making
- CEO
- Ken Griffin
- Team size
- 3,000+
What they do
Markets, revenue model and ecosystem role
Core markets traded: Citadel Securities makes markets in US-listed equities, equity options, US treasuries, interest rate swaps and FX. The hedge fund trades equities, fixed income, commodities, credit and quantitative strategies globally.
Revenue generation method: Citadel Securities earns the bid-ask spread on enormous executed volume, including payment-for-order-flow routed retail flow. The hedge fund generates returns through multi-strategy investing across asset classes.
Role in financial ecosystem: Citadel Securities is one of the largest liquidity providers in the world and a counterparty to a substantial share of US retail equity and options orders. The hedge fund is a major institutional investor with multi-asset reach.
Trader access & relevance
How retail and professional traders relate to this firm
Retail interaction: Retail traders interact with Citadel indirectly almost every time they trade US stocks or options — many broker orders are internalized by Citadel Securities. There is no direct retail product.
Hires professional traders: Yes — Citadel and Citadel Securities recruit quantitative researchers, portfolio managers, traders and engineers worldwide. They do not offer evaluation-based funded accounts.
Relevance to prop trading: Citadel represents the institutional ceiling of proprietary trading: scale, infrastructure and compensation that retail prop firms reference but operate well below.
Funding programs
Account types and the path to capital
Evaluation
—Not required by this firm.
Instant funding
—Not offered by this firm.
Scaling plan
—No formal scaling plan documented.
Not applicable.
Trading rules
What's allowed, what isn't
Asset classes supported
Related terms: trailing drawdown · consistency rule · profit split
Platforms & technology
Where and how you trade
Supported platforms
Payout structure
How and when you get paid
Pros & cons
A balanced view based on documented terms
Strengths
- +Top-tier compensation
- +Elite culture
- +Massive resources
Trade-offs
- −Highly selective
- −High performance bar
Frequently asked questions
Common questions about Citadel LLC
Is Citadel LLC a legitimate prop firm?+
Citadel LLC was founded in 1990 and is headquartered in Miami, USA. One of the most successful hedge funds in history, with multiple investment strategies.
Does Citadel LLC require an evaluation?+
No. Citadel LLC offers funded accounts without a traditional evaluation phase.
What is the profit split at Citadel LLC?+
Citadel LLC's published profit split is: Strategy P&L + base.
How often does Citadel LLC pay out?+
Citadel LLC processes payouts on a quarterly/annual basis.
What platforms does Citadel LLC support?+
Citadel LLC supports the following trading platforms: Internal.
What trading restrictions does Citadel LLC enforce?+
At Citadel LLC, news trading is allowed, overnight holding is allowed, weekend holding is allowed. Always confirm current rules directly with the firm before trading.