Tuesday, 24 May 2016
Last updated 7 hours ago
Jul 21 2009 | 7:04am ET
Hedge fund giant Citadel Investment Group, which has made a killing investing in U.S. securities exchanges, plans to take a majority stake in Europe’s Equiduct Trading.
Equiduct, a multilateral trading facility, was set up by the Börse Berlin in April. It and Citadel Securities will focus on building up a customer base of retail investors, according to Bloomberg News, competing with the year-older Chi-X Europe.
The terms of the deal, which was first reported by the Financial Times, are unclear.
Citadel is no stranger to the bourse business. The hedge fund invested in the Philadelphia Stock Exchange four years ago, earning more than $100 million when the PHLX was bought by the Nasdaq OMX Group. It is also an investor in Direct Edge Holdings, which has become the third-largest stock market in the U.S.