Citadel Securities Joins FastMatch, Executes First Disclosed Trade

Disclosed trading allows liquidity providers to provide customized pricing to best suit each client’s specific needs.

FastMatch today announced that it has executed the first fully disclosed trade between counterparties over its platform. The trade was executed between an undisclosed global tier one bank and its first liquidity provider that joined – Citadel Securities, one of the largest market makers in the U.S for options, FX, rates, equities, and other instruments.

Disclosed trading allows liquidity providers to provide customized pricing to best suit each client’s specific needs. In September, FastMatch announced that it would offer fully disclosed trading at a cost of only $1 per million USD notional per side. With this move FastMatch joined other electronic trading platforms, such as EBS, which have introduced disclosed trading to operate alongside their legacy ECNs.

“We had a tremendous positive response from clients and liquidity providers to our new, global, low cost, fully disclosed trading offering”, said Dmitri Galinov, CEO of FastMatch. “Citadel Securities – one of the largest market makers in the world – going live on the new offering only two weeks after its launch with many more firms in the pipeline is a strong recognition of the increasing demand in the market for disclosed trading”.

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Jamil Nazarali, Head of Citadel Execution Services, said: “We’re excited to partner with FastMatch to provide disclosed liquidity to clients. Disclosed trading allows us to customize our FX solutions based on an individual customer’s needs in order to provide them with the best level of service”.

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