Citadel Securities Opens Tokyo Office to Meet Demand for U.S. Fixed Income
Posted on 08/31/2022
Citadel Securities announced the opening of a new office in Tokyo and plans to launch its U.S. fixed-income offerings in Japan. Tokyo is the latest addition to the firm’s growing global footprint, which now includes 15 offices across North America, Europe, and Asia Pacific. Part of the reason for the Tokyo office is for Citadel Securities to be able to sell U.S. fixed income offerings to Japanese investors. Japanese investors including its banks, insurance companies, and pensions are a large pool of U.S. Treasury investors.
“Japan has a highly sophisticated, large and dynamic investor base, and we are excited to strengthen our presence in the country as we continue to expand in Asia Pacific and globally,” said Paul Hamill, Global Head of Fixed Income Distribution, Citadel Securities in a press release. “Japanese institutional investors have long played a critical role in the global fixed-income markets, and we look forward to providing them with our differentiated product offerings driven by innovations, technology, consistent and competitive pricing, best-in-class markets insights, and global macro thought leadership.”
Citadel Securities recently became a registered Type 1 Financial Instruments Business Operator, which allows the firm to offer liquidity in U.S. fixed income products, including U.S. Treasuries and USD interest rate swaps, in the Japanese market. Operations are expected to commence under the supervision of Japan’s Financial Services Agency once membership in the Japan Securities Dealers Association has been granted. The firm’s operations in Japan will be led by a local team that includes Shinichiro Kato, Representative Director of the Japan entity, responsible for fixed-income distribution in Japan, and Chungwon Gee, responsible for Asia-hours fixed-income trading, among other sales and trading professionals with deep expertise in the Japanese fixed-income markets.
Citadel Securities is one of the largest market makers in U.S. Treasuries and USD interest rate swaps globally, servicing many of the world’s largest financial institutions, including banks, asset managers, pension funds, hedge funds, central banks, and sovereign wealth funds, in more than 55 jurisdictions. The strength of the firm’s offering is powered by providing consistent and reliable liquidity in all market conditions and by delivering firm prices, fast quotes and competitive spreads along with full-service relationship management.
Citadel Securities has been operating in Asia since 2009 and launched its fixed-income offerings in Hong Kong in 2020. In July 2022, hedge fund Citadel signed a lease for the 59th floor in office tower Two IFC in Hong Kong. Citadel Securities grabbed the 42nd floor in the building.
Citadel Securities’ global footprint includes six offices and more than 200 workers in the Asia-Pacific region. Citadel was founded by Ken Griffin.
Bridgewater Associates
Bridgewater Associates opened a new office in Singapore. Bridgewater’s Singapore location adds to offices in Beijing and Shanghai in the region.