Optiver Recruits Former Citadel Trader to Challenge Retail Options Dominance

Optiver is aggressively expanding its footprint in the retail options space with the strategic hiring of Lawrence Tanzman. The Dutch market maker aims to capture a larger share of the options trades routed from retail brokerages, a business line that has been a cornerstone of Citadel Securities' success. Tanzman, who previously served as a trader at Citadel Securities, has joined Optiver's Chicago-based operations. His appointment signals a shift in Optiver's strategy as it seeks to compete more directly with the Ken Griffin-owned firm in the highly lucrative retail order flow market. Regulatory filings indicate that Tanzman is returning to the trading desk after a roughly two-year hiatus. On his LinkedIn profile, the trader described this period of absence as a 'Sa-Dad-ical,' suggesting a personal break before returning to a high-stakes professional role. While the hire is a personnel move, it underscores the intensifying competition among global market makers to secure retail flow. Increased competition in this space often leads to tighter spreads and improved execution for retail traders, though it creates a more aggressive environment for the firms involved.