Citadel Securities Acquires IMC’s NYSE Floor Business

Citadel Securities announced that it has reached a preliminary agreement to acquire IMC’s Designated Market Making (DMM) business on the floor of the New York Stock Exchange (NYSE). Citadel Securities will reinforce its position as the largest DMM on the NYSE both by number of securities and by market cap. Citadel Securities has been a DMM on the NYSE since 2016. In addition to overseeing daily trading in more than 1,500 NYSE-listed securities, the firm also regularly supports IPOs and direct listings. IMC has been a DMM on the NYSE since 2014, when it acquired Goldman Sachs’ DMM business. The transaction, which is expected to close during the fourth quarter of 2020, is subject to the completion of a definitive agreement and other customary closing conditions. Until the transaction closes, each DMM business will continue to operate independently.