 Susquehanna's main office in the Philadelphia area, on 401 City Avenue | |
| Company type | Privately held (LLP) |
|---|---|
| Industry | |
| Founded | May 1987; 38 years ago (May 1987) |
| Founders |
|
| Headquarters | Bala Cynwyd, Pennsylvania, U.S. |
Area served | 14 offices worldwide (as of 2022) |
| Products |
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| Revenue |  $7.2 billion (2024)[1] |
Number of employees | 3,000+ |
| Website | sig |
TheSusquehanna International Group is a privately held global trading and technology firm. Susquehanna comprises a number of affiliatedentities specializing in trading and proprietary investments inequities,fixed income, energy, commodity, index andderivative products,private equity andventure capital,prediction markets, research, customer trading and institutional sales.
Susquehanna is aspecialist or designated primarymarket maker in approximately 600 equity options and 45 index options on theCBOE,AMEX,PHLX, andISE, including equities such asGoogle,Goldman Sachs,JPMorgan Chase,GE,PepsiCo, andMicrosoft, and indices such asNasdaq andRussell 2000 options.
The firm employs more than 3,000 people in offices across North America (New York City,Chicago,San Francisco,Philadelphia,Boston,Stamford), Australia (Sydney), Europe (Dublin,London) and Asia (Shanghai,Beijing,Hong Kong,Tokyo).[2][3]
Susquehanna was founded in May 1987 by six entrepreneurs, includingArthur Dantchik andJeff Yass, who met in the late 1970s at theState University of New York at Binghamton, where they gathered to play cards.[4] The company was named after theSusquehanna River, which flows near their alma mater.[5] By October 1988, the firm had 100 employees and was located above thePhiladelphia Stock Exchange.[6] The company generated $30 million in annual revenue in its first year,[4] having earned millions throughput options it had purchased prior to theBlack Monday stock market crash.[7][5] Susquehanna's profits in the late 1990s often topped $1 billion. By then, the company was tradingconvertible bonds,commodity options,index options, and was a majorexchange-traded fundmarket maker.[5]
In 1996, Susquehanna founded Heights Capital Management inSan Francisco, which focuses onPIPE investments in healthcare and technology.[7]
In 2005, Susquehanna launched SIG China, its venture capital operation inChina. As of 2022, the firm had invested in over 350 companies with over 70 exits.[8][non-primary source needed]
In 2006, Susquehanna launched Susquehanna Growth Equity, which invests in software and information services, and offers growth stage funding to companies operating in the U.S. andIsrael.[9] At this point, Susquehanna had grown to over 12 offices throughout North America, Europe, and Asia.[10]
The same year, the firm invested in Kuxun, a search engine company, which was sold three years later, in 2009, toExpedia.[11]
Susquehanna experienced a major downturn during the2008 financial crisis but rebounded quickly, benefitting from the federal government'sbailout of the financial system.[12]
The firm invested $5 million intoByteDance, the parent company ofTikTok, in 2012 when ByteDance was founded. As of 2020, its stake in ByteDance represented 15 percent of its fully-diluted capitalization table and was valued over $15 billion on paper.[13]
In 2013, Susquehanna acquired G1 Execution Services LLC (G1X) fromE-Trade.[14]
In 2014, Susquehanna expanded its venture capital operations toJapan.
In 2017, Susquehanna launched Susquehanna Private Capital, LLC, which focuses on buyouts of U.S. middle market companies in the aerospace, industrials, consumer, healthcare, and business and government services industries.[15]
Also in 2017, Susquehanna established Nellie Analytics, aDublin based sports betting company.[16]
As of 2018, the firm traded about seven percent of U.S.ETF volume and more than $1.5 trillion in ETFs globally on an annual basis.[4]
As of 2022, the firm had 14 offices worldwide.
In 2024, Susquehanna announced the first dedicated trading desk for prediction markets on Wall Street.[17]
Susquehanna played a significantmarket maker role in the 2024 merger ofDigital World Acquisition Corp. andTrump Media & Technology Group.[18][19]
In 2009, theCalifornia Public Employees' Retirement System led a class action lawsuit against Susquehanna and other broker-dealers, includingGoldman Sachs,Bank of America,Van der Moolen, and others, for improperly executing trades for their dealer accounts ahead of their clients. The lawsuit reached a settlement in 2012, when the defendants, including Susquehanna, agreed to a $18.5 million settlement.[22]
In 2022,Northwest Biotherapeutics claimed in a suit filed in a Manhattan federal court that Susquehanna,Citadel Securities,Virtu Financial, and other market making firms engaged in repeatedspoofing that drove Northwest's share price downward.[23] The case was dismissed in 2024.[24]