Financial giant Citadel Securities picks Austin for tech hub

Global financial giant Citadel Securities has opened an Austin office that will serve as a research and innovation hub, the company said.

The Austin office provides access to “leading universities and an exceptional talent pool, which aligns with Citadel Securities’ focus on investing in top technology talent,” the firm said in a written statement.

Citadel Securities was founded by billionaire hedge fund manager Ken Griffin and is one of the world’s largest electronic trading firms.

It is building an Austin team that will include computer scientists, engineers and quantitative researchers.

“Our unique strengths in technology and predictive analytics have always been at the core of our success, which is why we are excited to expand into one of the world’s fastest growing hubs for talent and innovation in these areas,” said Peng Zhao, CEO of Citadel Securities. “We see tremendous opportunity for growth in Austin and we look forward to being an active part of its vibrant community.”

As a market maker, Citadel Securities is always prepared to buy and sell securities in order to provide liquidity to institutional clients and financial broker-dealers in a matter of seconds.

According to Bloomberg, Citadel Securities has been investing aggressively in technology and artificial intelligence to meet investor demand for rapid-fire trading strategies.

Citadel Securities generated $3.5 billion in revenue last year, and it handles one in five shares traded in the U.S., Bloomberg said.

Based in Chicago, the firm has major offices in London and New York as well as locations in Hong Kong, Toronto, Sydney, Dublin and Shanghai.