Citadel Securities is acquiring a minority stake in research firm Wolfe Research to gain access to more equity trades and strengthen its research offering. Bloomberg reports this.
Citadel Securities will execute trades for Wolfe’s clients and distribute the company’s research to its own clients for a fee. Wolfe Research will thereby gain its first external investor.
The deal gives Citadel Securities access to a research product without having to build the business internally. Wolfe is simultaneously planning to gradually move trading in equities and options to Citadel Securities, while its collaboration with Nomura on research in Japan will continue.
