JPMorgan Chase has ceased providing high-touch equity trading services to Citadel Securities. This decision follows Citadel Securities' formal launch of a competing institutional equities business scheduled for early 2026. The new venture targets the same large asset managers and hedge funds currently served by JPMorgan.
JPMorgan will no longer offer non-electronic trading or research-based recommendations to the firm. The bank continues to provide prime brokerage and programmatic trading services to Citadel Securities.
Ken Griffin founded both Citadel Securities and the separate hedge fund, Citadel. JPMorgan’s relationship with the Citadel hedge fund remains unaffected by this change.