Citadel Securities Warns SEC of Private Rooms, 24-Hour Trading

Citadel Securities is urging the Securities and Exchange Commission’s new leadership to examine a list of what it argues are emerging and mounting risks, including opaque trading in so-called private rooms and the push by US stock markets to operate around the clock.

Billionaire Ken Griffin’s market-making firm sent more than 30 recommendations, spotlighting concerns in equities, credit, treasuries, options and digital assets. Subjects included private rooms — a twist on dark pools, in which only certain parties are allowed to transact.

“Now is the right time to comprehensively review the current regulatory framework and take decisive action ...