Citadel To Buy Majority Stake In European Exchange

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.


In Depth

Q&A: Decathlon Capital On Revenue-Based Alternative Lending

Oct 30 2017 | 3:49pm ET

The explosion in private credit activity since the end of the financial crisis is...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Saxby: Not All EBITDA Is Created Equal

Nov 30 2017 | 8:02pm ET

Record levels of dry powder are driving competition among private equity firms to...