Citadel Securities Europe Records 113% Increase in Profit for 2022

<p>The British
branch of Citadel Securities Group (CS Group) has just published its results
for 2022, reporting a significant growth in revenue, operating profit, and
net profit. Ultimately, the firm, which specializes in liquidity provision and
market-making for broad asset classes, more than doubled its income compared to
2021, which stood at $113,361.</p><p>Citadel Securities Europe
Boosts Revenues and Profits</p><p>Citadel
Securities (Europe) Limited is a UK-registered branch of CS Group. In addition
to providing market-making services for options, futures, stocks, and others,
it supplies trading algorithms and software development to affiliated
Group Companies.</p><p>The annual
earnings "reflects the continued growth and positive trading performance."
For the fiscal year concluding on 31 December 2022, the firm generated a total
revenue of $499,484, compared to $323,063 in 2021, while the total operational
costs came to $348,078, up from $258,327 in the previous year. This was also a<a href="https://www.financemagnates.com/institutional-forex/citadel-securities-europe-sees-421-gain-in-2021-net-income/" target="_blank" rel="follow">
better result compared to 2020</a> when the revenue stood at $349,000.</p><p>"The
increase in operating expenses was in line with expectations and reflects the
Company's investment in strategic growth initiatives and the CS Group's
proprietary algorithmic trading technology, with a particular focus on
attracting and retaining talent resulting in a 24% increase in headcount since
2021," Citadel Securities commented in the filing.</p><p>The rise in
trading income corresponded with a boost in volumes in the company's primary
markets and ongoing expansion into new sectors and regions. This resulted in an
uptrend in operating profit to $151,406, up from $64,736 reported the previous
year, and a net profit of $113,361. This means that compared to the $48,676 reported
in 2021, the profit soared 113%. </p><p>Citadel Securities Finance
(UK) Revenue Jumps 120%</p><p>Citadel
Securities, a US-based market-making company with its main office in Miami, has another UK offshoot called Citadel Securities Finance (UK) Limited that offers
comparable services. This subsidiary recently released its annual financial
figures, <a href="https://www.financemagnates.com/institutional-forex/citadel-securities-uks-revenue-jumps-120-amid-expansion-plans/" target="_blank" rel="follow">indicating substantial gains in revenue and net earnings. </a></p><p>The
financial statement shows that the total revenue skyrocketed nearly 120% from
the $559.19 million recorded in 2021 to $1.23 billion. Concurrently, the firm
saw a significant uptick in its total comprehensive income, which escalated 78%
from $323.8 million to $575.52 million.</p><p>Less than two
weeks ago, <a href="https://www.financemagnates.com/" target="_blank" rel="follow">Finance Magnates</a> reported that Citadel Securities had <a href="https://www.financemagnates.com/cryptocurrency/citadel-securities-slapped-with-7m-fine-for-coding-error-sec-says/" target="_blank" rel="follow">settled
allegations</a> of violating <a href="https://www.financemagnates.com/terms/r/regulation/">Regulation</a> SHO, a rule aimed at overseeing
short-selling activities. The controversy revolved around the company's alleged
failure to accurately categorize sale orders as either long, short, or short
exempt.</p>

This article was written by Damian Chmiel at www.financemagnates.com.