Citadel Securities has borrowed $600 million to bolster its balance sheet and capitalise on strong demand from lenders after increased market volatility helped it record strong performance in the first six months of the year, according to a report by The Financial Tines. Q2 net trading revenues at the company reportedly surged 38 per cent from a year earlier to reach $1.9 billion.

Citadel Securities has borrowed $600 million to bolster its balance sheet and capitalise on strong demand from lenders after increased market volatility helped it record strong performance in the first six months of the year, according to a report by The Financial Times. Q2 net trading revenues at the company reportedly surged 38 per cent from a year earlier to reach $1.9 billion.

Citadel, which is majority owned by billionaire hedge fund investor Ken Griffin, in one of the largest market-makes in the US and currently executes more than a fifth of equities trading volume in the US and handles more retail stock trades than any other market maker. 

The report says that the company has told lenders – including credit funds – that the cash raised will be used as additional trading capital, and also to support the firm's expansion into markets outside the US and to increase its institutional fixed income business.

Venture Capital firms Sequoia and Paradigm acquired a $1.2 billion stake in Citadel Securitures earlier this year giving the firm a market valuation of $22 billion.