Citadel Securities Is Muscling Its Way Into Credit Market-Making

Ken Griffin’s market-making powerhouse is challenging Wall Street banks on their own turf as it enters the multitrillion-dollar world of corporate debt.

Citadel Securities LLC started offering investment-grade trading to clients this month with plans to make markets in high-yield bonds by the end of the year, according to executives.

Already responsible for more than a third of all US retail stock trades in the era of online apps like Robinhood, the firm is ramping up its presence across fixed income, beyond interest-rate swaps and Treasuries. It also plans to offer portfolio trades — a novel tech-powered approach to ...