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Market-maker Citadel Securities opened a temporary Palm Beach trading floor at a hotel while keeping all 24 staff from NY and Chicago on-site. The necessary infrastructure was built in less than a week.
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“This effort reflects our deep commitment to delivering on the liquidity needs of our clients through all conditions,” Chief Executive Officer Peng Zhao said in the note. In the memo, released by Zhao and founder Ken Griffin, the firm said the Florida “staff will remain onsite to minimize the potential risk of any team members contracting the virus.”
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