Quiet killer
Ken Griffin’s Sydney bet is paying off.
Good morning.
While Ken Griffin jousts with Zohran Mamdani in New York and pushes quant guys out of Hong Kong, his market-making arm has been quietly printing money in Sydney.
Regulatory filings viewed by Capital Brief show Citadel Securities nearly tripled Australian net profit year-on-year to USD74.2 million in 2025. That makes it one of the most profitable trading operations in the country relative to its book size less than a decade after opening its first local office in 2016.
The firm’s unusually candid accounts show it is, in effect, a Sydney-domiciled Asia trading operation...
| ▲ | ASX All Ords | 8,885 | +0.55% |
| ▼ | ASX All Tech | 2,722 | -1.55% |
| ▼ | Oil | $105.00 | -0.61% |
| ▲ | Gold | $4,698 | +0.24% |
| ▼ | Bitcoin | $79,784 | -0.49% |
| ▼ | Ethereum | $2,267 | -0.71% |
ASX 200 as at market close. Bitcoin in USD.
Market movers
| ▲ | ASX:MP1 | $12.58 | +27.72% |
Shares in network-as-a-service provider Megaport rocketed on Thursday after the company secured three major contracts worth a combined USD182 million across two US-based technology customers, covering GPU, CPU, network and storage services. UBS analyst Tim Plumbe said the deals implied potential upside of about 30% to his FY27 EBITDA forecasts, describing the wins as evidence of the accelerating scale of Megaport’s AI infrastructure business.
And spare a thought for Bapcor, whose shares tanked 18.5% after it became the latest example of how the US-Iran war is hitting corporate Australia.
