Hedge fund Citadel's securities arm appears to have abandoned plans to become a market maker in treasuries, prompting the company to eliminate several jobs, two people familiar with the matter told Reuters.
The Chicago-based firm's Citadel Securities unit already acts as a market maker for stocks and options, and had been mulling plans to branch out into treasuries for several months but recently decided to redirect its resources. A small number of employees were working on the project in the firm's New York office and the people departed in the last weeks, a person familiar with the matter said.
http://www.reuters.com/article/2011/07/13/hedgefunds-citadel-idUSN1E76C16B20110713
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