Citadel Securities, one of the world's largest market makers, Friday filed an application for a securities license in China, about a year after its global CEO expressed interest in entering the market.
Billionaire Ken Griffin's Citadel Securities has become the latest U.S. firm to make a foray into China while Wall Street companies closely monitor any fallout from heightened tension between Beijing and Washington.
Citadel Securities global chief executive Peng Zhao in 2023 told Reuters that it was "actively exploring" establishing a licensed onshore business in China.
Citadel Securities has filed the application via a China securities entity, an official filing from China's securities watchdog shows. The filing showed that the regulator received the application on January 17.
Citadel Securities hired Tony Tang, the former head of BlackRock Inc's China business, in 2023 to head its China operations.