Citadel Securities Becomes NYSE's Largest DMM, Acquires KCG's Business

Move marks the second new firm to join the DMM space this year.

Jamil Nazarali, head of Citadel execution services

DMMs, unique to the NYSE, are responsible for making sure there is always liquidity available for buyers and sellers of their assigned listing. Three firms control roughly 90 percent of the listings: IMC, a Dutch-based market maker; GTS, who in January acquired Barclays' DMM business; and now Citadel Securities.

GTS CEO Ari Rubenstein spoke with WatersTechnology about his firms acquisition earlier this week. 

The KCG DMM team will transition to Citadel Securities, and the deal is expected to

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