Ken Griffin's Citadel Securities logs 35% plunge in first-half revenue as low market volatility reduces trading opportunities
Billionaire Ken Griffin's Citadel Securities logged a 35% slump in trading revenue during the first half of 2023 amid a decline in market volatility.
The capital-markets firm earned a net $2.73 billion during the six months through June, compared with $4.2 billion in the year-earlier period, sources close to the matterThe plunge comes amid fading investor angst over high inflation, interest rate hikes, and recession risks – creating a sense of calm in markets, and reducing opportunities to profit from outsized fluctuations.
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