[gruez]

>This is why Citadel has $60+ billion dollars of "securities sold not yet purchased" on their financial statements.

1. source?

2. supposing this is true, what's their daily turnover? "60+ billion" sounds like a lot, but if that's their daily turnover that shouldn't be anything out of the ordinary.

[Lionga]

1. Just look at their financial statements they , nobody is allowed this naked shorting but Cidatel is because they are a market manipu ahhh sorry maker.

Not that others won't naked short also, it is just they do not do it openly.

[gruez]

>nobody is allowed this naked shorting but Cidatel is because they are a market manipu ahhh sorry maker.

That's... working as intended?

> market makers provide a required amount of liquidity to the security's market, and take the other side of trades when there are short-term buy-and-sell-side imbalances in customer orders. In return, the specialist is granted various informational and trade execution advantages.

You can argue such a system is inegalitarian or whatever, but if you want a reliable provider of liquidity that won't instantly vanish when there's market turmoil (ie. when you need it the most), there has to be some mechanism to compensate market makers.

[slt2021]

Citadel is basically counterfeiting shares, just like the Fed is printing dollars.

its a scam and is a reason how Citadel makes $30,000,000,000 profit per year

[gruez]

>its a scam and is a reason how Citadel makes $30,000,000,000 profit per year

Where are you getting "$30,000,000,000" (billion) in profit? Wikipedia says they only made $6.3 billion in revenue in 2023. Moreover, they were in existence for 22 years. Even if they only started "counterfeiting shares" in 2021, $30B in profit per year (so $90B in the past 3 years) seems absurd for only $60B worth of "counterfeiting shares" on their balance sheets.

[slt2021]

  Citadel gross trading profit totalled $28bn last year, 

https://www.hedgeweek.com/citadel-makes-record-16bn-profit/#....

60B is a balance at a specific date 12/31/2022, they trim the balance by the EOY and harvest losses.

the average balance is much bigger and fluctuates heavily given market demand.

UPD: I stand corrected, the market making arm only made meager $5,000,000,000 for the 6 months, so more like 10,000,000,000/year, not 28

https://www.nasdaq.com/articles/citadel-and-jane-street-set-...

[gruez]

"Citadel Securities is a separate entity from the hedge fund Citadel LLC"

https://en.wikipedia.org/wiki/Citadel_Securities

The market maker boogeyman is Citadel Securities, not Citadel LLC.