Citadel Securities partners BestX for TCA

The first non-bank market-maker to allow clients to evaluate execution quality via BestX

kevin kimmel citadel securities
Kevin Kimmel: BestX deal will help Citadel Securities demonstrate the quality of its offering

Citadel Securities has partnered third-party transaction cost analysis (TCA) provider BestX, becoming the first non-bank liquidity provider (NBLP) client of the analytics vendor, which already has JP Morgan and HSBC amongst its customers.

The US trading firm has been pushing to build out its disclosed institutional client franchise alongside its anonymous, central limit order book business this year, at the same time as client demand for independent execution analytics has grown.

Clients will