Citadel Sec Posts 30% Decline in 2019

Citadel Securities (Europe), today published its annual financials for 2019. It reported a significant fall in its revenue and profits.

From January 1, 2019 to December 31, 2019, the company earned a net revenue of $175,123. This was down from $251,144 in the previous year.

This means that the year-on-year revenue of the company declined by more than 30.2%.

With that, the annual pre-tax profits of the firm took a more severe dent. It slumped to $25,021 from $98,559 in 2018.

The Companies House filing has detailed that it paid $110,000 as dividends in 2019. But the directors have not recommended any final ordinary dividend payment.

The UK-registered company offers liquidity provisions and marketing. It provides services in equities, futures, options, interest rates, swaps, and government securities.

In addition, it provides trade agency services and support, trade execution, portfolio management, trading algorithm, and software development. It provides all these to other Citadel group affiliates.

Citadel: Awaiting Post-Brexit

The Group is also preparing itself for the post-Brexit implications. It has already established a Dublin-based subsidiary to smoothly continue operations in Europe.

The filing noted that trading in EU markets was scaled up in the Irish regulated entity. This was to ensure the maintenance of EU market access by the CS Group in case of any Brexit scenarios.

Moreover, in 2019, the company invested in technology and expanded its offerings in the non-European markets and US government securities. These moves resulted in a 6.4 percent% of the company’s administrative expenses.

Meanwhile, another company under the Group incorporated in April 2019. Citadel Securities Finance also published its first financial report until the end of last year.

It handles treasury and cash management provisions for the Group, posting an income of $3,620 generated from outstanding loans.