Citadel Securities explores China licence as Beijing steps up market-making program

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Peng Zhao, CEO, Citadel Securities speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2023. REUTERS/Mike Blake/File Photo Acquire Licensing Rights HONG KONG, Nov 13 (Reuters) - Citadel Securities, one of the world's biggest market-making firms, is "actively exploring" establishing a licensed onshore business in China, its chief executive Peng Zhao said. If Citadel Securities were to obtain a licence, it would be the first foreign firm to formally foray into market-making in China outside interbank and foreign exchange market making. Over the last two years, Chinese authorities have encouraged the development of market...