Citadel Securities (Europe) Sees 421% Gain in 2021 Net Income

Citadel Securities (Europe), which provides liquidity provisioning and market-making services, and is a part of the border Citadel Securities Group, published its yearly financials for 2020, ending on December 31. The company earned a total income of $348,977 in the 12 months, recovering from $302,811 generated in the previous year.

The latest Companies House filing further highlighted that the company ended the year with an operating profit of $108,574. The recovery in this parameter was significant as in the previous year, the company reported a total operating income of $26,628.

The company’s comprehensive income for the year came in at $81,483 climbing from $15,633 in the previous year: a year-on-year gain of 421 percent. The return on equity strengthened to 32.5 percent from merely 5.45 percent in 2019.

Additionally, the liquidity ratio of the company dropped to 35.3 percent from 49.62 percent.

Impact of the Pandemic

“During 2020, the global outbreak of Covid-19 pandemic and restrictions imposed by the governments tested the Company’s operating model and operational resilience,” the filing stated. “In response to the unprecedented market volume, the Company reassessed its business plan and refocused its efforts to provide liquidity in its key markets.”

“The Company’s continuous investments in technology, operational resilience and business continuity in planning enabled its capacity to respond to these challenges and increase its trading volume during the period in line with demand.”

The Citadel Securities Group affiliate further mentioned the impact of Brexit on the industry, but highlighted that the exit of the UK from the European bloc did not affect its business as the company already made preparations for all scenarios.

“The profit of the year… reflects both the Company’s increase in trading activity and revenue, as well as the strong performance of the CS Group as a whole for whom it provides various services,” the filing added.

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