Citadel Securities LLC v. U.S. Securities and Exchange Commission, et al
| CITADEL SECURITIES LLC |
| U.S. SECURITIES AND EXCHANGE COMMISSION |
| INVESTORS EXCHANGE LLC |
| INVESTORS EXCHANGE LLC |
| MEMX LLC, NYSE ARCA, INC., NYSE AMERICAN, LLC, CTC, LLC, PROFESSOR J.W. VERRET, HEALTHY MARKETS ASSOCIATION and BETTER MARKETS, INC. |
| 25-13631 |
| October 17, 2025 |
| U.S. Court of Appeals, Eleventh Circuit |
| Other |
Opinions
We have the following opinions for this case:
| Description |
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 Citadel Securities LLC v. Securities and Exchange Commission
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Docket Report
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This docket was last retrieved on April 1, 2026. A more recent docket listing may be available from PACER.
| Document Text |
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| Filing 68 Attorney Won S. Shin for Intervenor Investors Exchange LLC hereby acknowledges receipt of a copy of the printed calendar for 04/28/2026. Won S. Shin, (212) 403-1129 will present argument. [25-13631] (ECF: Won Shin) [Entered: 04/01/2026 03:14 PM] |
| Filing 67 Attorney Emily True Parise for Respondent U.S. Securities and Exchange Commission hereby acknowledges receipt of a copy of the printed calendar for 04/28/2026. Emily True Parise, (202) 551-5169 will present argument. [25-13631] (ECF: Emily Parise) [Entered: 03/30/2026 10:39 AM] |
| Filing 66 Attorney Eugene Scalia for Petitioner Citadel Securities LLC hereby acknowledges receipt of a copy of the printed calendar for 03/10/2026. Eugene Scalia, (202) 955-8210 will present argument. [25-13631] (ECF: Eugene Scalia) [Entered: 03/10/2026 04:17 PM] |
| Filing 65 Oral argument scheduled. Argument Date: Tuesday, 04/28/2026 Argument Location: Miami, FL. [Entered: 03/05/2026 12:45 PM] |
| Filing 64 Calendar issued as to cases to be orally argued the week of 04/27/2026 in Miami, Florida. Counsel are directed to electronically acknowledge receipt of this calendar by docketing the Calendar Receipt Acknowledged event in ECF (a document upload is not required). [Entered: 03/05/2026 09:16 AM] |
| Filing 63 Received paper copies of Respondent brief [5 copies ] and appendix, [5 copies] [1 volume] for Respondent U.S. Securities and Exchange Commission. [Entered: 03/03/2026 11:19 AM] |
| Filing 62 The Court has determined that oral argument will be necessary in this case. Please forward 3 additional copies of the appendices and brief, which conform to all formatting requirements, filed by Attorney Brooke Wagner for Respondent U.S. Securities and Exchange Commission to the Clerk's Office. Your prompt attention to this matter is appreciated. [Entered: 02/26/2026 04:38 PM] |
Filing 61
ORDER: Motion to continue oral argument to a later date filed by Intervenor Investors Exchange LLC is DENIED. [ # 44 ] ENTERED FOR THE COURT - BY DIRECTION. (See attached order for complete text) [Entered: 02/26/2026 07:19 AM]
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| Filing 60 Received paper copies of Petitioner reply brief [5 copies ] for Petitioner Citadel Securities LLC. [Entered: 02/25/2026 10:23 AM] |
| Filing 59 Reply Brief filed by Petitioner Citadel Securities LLC. [25-13631] (ECF: Eugene Scalia) [Entered: 02/20/2026 10:23 PM] |
| Filing 58 Received paper copies of Intervenor, Petitioner and Respondent brief [1 copies ] for Intervenor Investors Exchange LLC, Petitioner Citadel Securities LLC and Respondent U.S. Securities and Exchange Commission. [Entered: 02/17/2026 04:23 PM] |
| Filing 57 Received paper copies of Intervenor brief [5 copies ] for Intervenor Investors Exchange LLC. [Entered: 02/11/2026 10:03 AM] |
| Filing 56 NOTICE OF CERTIFICATE OF INTERESTED PERSONS (CIP) DEFICIENCY issued to William Savitt for Investors Exchange LLC. You have failed to complete the Web-Based CIP on the Court's website. If you are an appellant or petitioner, pursuant to 11th Cir. Rules 26.1-5(c) and 42-1(b), this appeal will be dismissed without further notice upon the expiration of 14 days from the date of this notice unless you remedy the default(s). If you are an appellee or respondent, pursuant to 11th Cir. R. 26.1-5(c), no action may be taken on your filings until you comply with the CIP rules. [Entered: 02/09/2026 10:19 AM] |
| Filing 55 APPEARANCE of Counsel Form filed by Jim Davy for Better Markets, Inc.. Related cases? No. [25-13631] (ECF: Jim Davy) [Entered: 02/09/2026 10:04 AM] |
| Filing 54 NOTICE OF CERTIFICATE OF INTERESTED PERSONS (CIP) DEFICIENCY issued to Thomas A. Burns for Healthy Markets Association. You have failed to complete the Web-Based CIP on the Court's website. If you are an appellant or petitioner, pursuant to 11th Cir. Rules 26.1-5(c) and 42-1(b), this appeal will be dismissed without further notice upon the expiration of 14 days from the date of this notice unless you remedy the default(s). If you are an appellee or respondent, pursuant to 11th Cir. R. 26.1-5(c), no action may be taken on your filings until you comply with the CIP rules. [Entered: 02/09/2026 10:00 AM] |
| Filing 53 NOTICE OF CERTIFICATE OF INTERESTED PERSONS (CIP) DEFICIENCY issued to Keith Bradley for Professor J.W. Verret. You have failed to complete the Web-Based CIP on the Court's website. If you are an appellant or petitioner, pursuant to 11th Cir. Rules 26.1-5(c) and 42-1(b), this appeal will be dismissed without further notice upon the expiration of 14 days from the date of this notice unless you remedy the default(s). If you are an appellee or respondent, pursuant to 11th Cir. R. 26.1-5(c), no action may be taken on your filings until you comply with the CIP rules. [Entered: 02/09/2026 09:59 AM] |
| Filing 52 Notice of deficient Brief filed by Jim Davy for Better Markets, Inc.. You have not filed an Appearance of Counsel Form. Counsel who wish to participate in this appeal must complete and file an appearance form within 5 days. Appearance of Counsel Form are available on the Internet at www.call.uscourts.gov. The clerk may not process filings from an attorney until that attorney files an appearance form. See 11th Cir. R. 46-6. [Entered: 02/09/2026 09:51 AM] |
| Filing 51 REPLY to RESPONSE to Motion to expedite oral argument [ # 44 ] filed by Intervenor Investors Exchange LLC. [25-13631] (ECF: William Savitt) [Entered: 02/08/2026 06:09 PM] |
| Filing 50 Intervenor's Brief filed by Intervenor Investors Exchange LLC. [25-13631] (ECF: William Savitt) [Entered: 02/06/2026 11:38 PM] |
| Filing 49 Amicus Brief as of right or by consent of the parties filed by Jim Davy for Better Markets, Inc.. [25-13631] (ECF: Jim Davy) [Entered: 02/06/2026 05:08 PM] |
| Filing 48 RESPONSE to Motion to expedite oral argument filed by Intervenor Investors Exchange LLC and Not Party Investors Exchange LLC [ # 44 ] filed by Attorney Eugene Scalia for Petitioner Citadel Securities LLC. [25-13631] (ECF: Eugene Scalia) [Entered: 02/06/2026 04:33 PM] |
| Filing 47 Amicus Brief as of right or by consent of the parties filed by Keith Bradley for Professor J.W. Verret. [25-13631] (ECF: Keith Bradley) [Entered: 02/06/2026 04:01 PM] |
| Filing 46 Amicus Brief as of right or by consent of the parties filed by Jed W. Glickstein for CTC, LLC. [25-13631] (ECF: Jed Glickstein) [Entered: 02/06/2026 03:03 PM] |
| Filing 45 Amicus Brief as of right or by consent of the parties filed by Thomas A. Burns for Healthy Markets Association. [25-13631] (ECF: Thomas Burns) [Entered: 02/06/2026 01:47 PM] |
| Filing 44 TIME SENSITIVE MOTION to expedite oral argument filed by Investors Exchange LLC. Opposition to Motion is Unknown. [44] [25-13631] (ECF: William Savitt) [Entered: 02/05/2026 08:08 PM] |
| Filing 43 APPEARANCE of Counsel Form filed by Jed W. Glickstein for CTC, LLC Related cases? No. [25-13631] (ECF: Jed Glickstein) [Entered: 02/05/2026 04:10 PM] |
| Filing 42 APPEARANCE of Counsel Form filed by Thomas A. Burns for Healthy Markets Association Related cases? No. [25-13631] (ECF: Thomas Burns) [Entered: 02/05/2026 01:19 PM] |
| Filing 41 APPEARANCE of Counsel Form filed by Keith Bradley for Professor J.W. Verrett Related cases? No. [25-13631] (ECF: Keith Bradley) [Entered: 02/05/2026 01:04 PM] |
| Filing 40 Supplemental Appendix [1 VOLUMES] filed by Respondent U.S. Securities and Exchange Commission. [25-13631] (ECF: Brooke Wagner) [Entered: 01/30/2026 04:41 PM] |
| Filing 39 Appellee's Brief filed by Respondent U.S. Securities and Exchange Commission. [25-13631] (ECF: Brooke Wagner) [Entered: 01/30/2026 04:38 PM] |
| Filing 38 Amicus Brief filed by Not Parties MEMX LLC, NYSE American, LLC and NYSE Arca, Inc... [Entered: 01/26/2026 11:43 AM] |
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Filing 37
ORDER: The motion for leave to file Amicus brief out of time filed by NYSE Arca, Inc., NYSE American LLC, and MEMX LLC in support of Petitioner is GRANTED. [ # 36 ] BCG (See attached order for complete text) [Entered: 01/26/2026 11:35 AM]
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| Filing 36 MOTION for leave to file BRIEF OF NYSE ARCA, INC., NYSE AMERICAN LLC, AND MEMX LLC AS AMICI CURIAE IN SUPPORT OF PETITIONER, SUPPORTING VACATUR OF THE ORDER SUBJECT TO REVIEW out of time filed by Jonathan Kaskel for Amici Curiae NYSE Arca, Inc., NYSE American LLC, and MEMX LLC. [36] [25-13631] (ECF: Jonathan Kaskel) [Entered: 01/15/2026 11:14 PM] |
| Filing 35 Notice of deficient Motion to file amicus brief filed by Jonathan H. Kaskel for NYSE American, LLC, NYSE Arca, Inc. and MEMX LLC. Incorrect Relief used to file a document. Counsel must refile motion to file amicus brief as a motion to file out of time with the brief attached as an exhibit to the motion using the correct relief within 5 days. [Entered: 01/15/2026 12:56 PM] |
| Filing 34 Received paper copies of Petitioner brief [5 copies ] and appendix, [5 copies] [1 volumes] for Petitioner Citadel Securities LLC. [Entered: 01/15/2026 12:43 PM] |
| Filing 33 DEFICIENT *** MOTION to file amicus brief filed by Jonathan Kaskel for Amici Curiae NYSE Arca, Inc., NYSE American LLC, and MEMX LLC. [33] [25-13631]--[Edited 01/26/2026 by CRL] (ECF: Jonathan Kaskel) [Entered: 01/14/2026 12:53 PM] |
| Filing 32 Notice that no action will be taken on Amicus Brief filed by Attorney Jonathan H. Kaskel for Not Parties NYSE American, LLC, NYSE Arca, Inc. and MEMX LLC. Reason(s) no action being taken on filing(s): The amicus brief in support of Petitioner is out of time and a motion to file the document(s) out of time has not been filed. See 11th Cir. R. 42-1(b). Additionally, you have failed to complete the Web-Based CIP on the Court's website. [Entered: 01/12/2026 09:48 AM] |
| Filing 30 FILED WITHOUT LEAVE OF THE COURT *** Amicus Brief as of right or by consent of the parties filed by Jonathan Kaskel for NYSE Arca, Inc., NYSE American LLC, and MEMX LLC, as Amici Curiae. [25-13631]--[Edited 01/12/2026 by CRL] (ECF: Jonathan Kaskel) [Entered: 01/08/2026 06:15 PM] |
| Filing 29 APPEARANCE of Counsel Form filed by Jonathan Kaskel for NYSE Arca, Inc., NYSE American LLC, and MEMX LLC, as Amici Curiae Related cases? No. [25-13631] (ECF: Jonathan Kaskel) [Entered: 01/08/2026 05:21 PM] |
| Filing 28 Assigned to tentative calendar number 15 in Miami during the week of April 27, 2026. You must file three additional identical paper copies of the brief and appendix, which conform to all formatting requirements, e.g., a cover page for briefs, in Atlanta, within seven days of the date of this notice (see 11th Cir. R. 31-3 & 11th Cir. R. 30-1(d)), and FRAP 32 and the accompanying circuit rules. [Entered: 01/07/2026 04:44 PM] |
| Filing 27 Appendix filed [1 VOLUMES] by Petitioner Citadel Securities LLC. [25-13631] (ECF: Eugene Scalia) [Entered: 12/19/2025 10:50 PM] |
| Filing 26 Appellant's brief filed by Citadel Securities LLC. [25-13631] (ECF: Eugene Scalia) [Entered: 12/19/2025 10:47 PM] |
| Filing 25 Certified Agency List filed as to Attorney Brooke Wagner for Respondent U.S. Securities and Exchange Commission. [25-13631] (ECF: Brooke Wagner) [Entered: 12/12/2025 10:25 AM] |
| Filing 24 Notice to Counsel of Record. Counsel of Record must be logged in to CM/ECF and Pacer to access this document. This is the only notice you will receive regarding this matter. Please print a copy for your file. [Entered: 11/21/2025 01:42 PM] |
| Filing 23 APPEARANCE of Counsel Form filed by Brooke Wagner for Securities and Exchange Commission Related cases? No. [25-13631] (ECF: Brooke Wagner) [Entered: 11/19/2025 11:21 AM] |
| Filing 22 Briefing shall proceed as follows: Petitioners principal brief is due on December 19, 2025. The appendix is due no later than 7 days from the filing of the appellant's brief. Respondents response brief is due on January 30, 2026. Petitioners reply brief, if any, is due on February 20, 2026. [Entered: 11/17/2025 04:47 PM] |
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Filing 21
ORDER: Respondents unopposed motion to set a briefing schedule is GRANTED, and Petitioners motion to expedite is DENIED AS MOOT. Briefing shall proceed as follows: Petitioners principal brief is due on December 19, 2025. Respondents response brief is due on January 30, 2026. Petitioners reply brief, if any, is due on February 20, 2026. [ # 17 ]; Motion to expedite filed by Petitioner Citadel Securities LLC is DENIED as MOOT. [ # 7 ]; The Clerk is DIRECTED to place this appeal on the next available oral argument calendar with a vacancy.; Motion to intervene is GRANTED. [ # 10 ] RSR (See attached order for complete text) [Entered: 11/17/2025 04:37 PM]
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| Filing 20 Civil Appeal Statement filed by Attorney Eugene Scalia for Petitioner Citadel Securities LLC. Related cases? No. [25-13631] (ECF: Eugene Scalia) [Entered: 11/10/2025 05:43 PM] |
| Filing 19 Brian Alan Richman for Petitioner Citadel Securities LLC, Eugene Scalia for Petitioner Citadel Securities LLC, John Tienken for Petitioner Citadel Securities LLC, Helgi C. Walker for Petitioner Citadel Securities LLC and Brandon C. Wolf for Petitioner Citadel Securities LLC is notified that, pursuant to 11th Cir. R. 42-1(b), this appeal will be dismissed without further notice upon the expiration of 14 days from the date of this notice unless the appellant files a Civil Appeal Statement. [Entered: 11/10/2025 04:36 PM] |
| Filing 18 Certificate of Interested Persons and Corporate Disclosure Statement filed by Attorney Emily True Parise for Respondent U.S. Securities and Exchange Commission. On the same day the CIP is served, any filer represented by counsel must also complete the court's web-based stock ticker symbol certificate at the link here http://www.ca11.uscourts.gov/web-based-cip or on the court's website. See 11th Cir. R. 26.1-1(b). [25-13631] (ECF: Emily Parise) [Entered: 11/10/2025 12:58 PM] |
| Filing 17 RESPONSE to Motion to expedite [ # 7 ] with incorporated MOTION to restart or set briefing schedule filed by Respondent U.S. Securities and Exchange Commission. Motion is Unopposed. [17] [25-13631] (ECF: Emily Parise) [Entered: 11/10/2025 12:37 PM] |
| Filing 16 Certificate of Interested Persons and Corporate Disclosure Statement filed by Attorney Eugene Scalia for Petitioner Citadel Securities LLC. On the same day the CIP is served, any filer represented by counsel must also complete the court's web-based stock ticker symbol certificate at the link here http://www.ca11.uscourts.gov/web-based-cip or on the court's website. See 11th Cir. R. 26.1-1(b). [25-13631] (ECF: Eugene Scalia) [Entered: 11/03/2025 05:19 PM] |
| Filing 15 APPEARANCE of Counsel Form filed by Emily True Parise for U.S. Securities and Exchange Commission Related cases? No. [25-13631] (ECF: Emily Parise) [Entered: 11/03/2025 02:13 PM] |
| Filing 14 APPEARANCE of Counsel Form filed by John Tienken for Citadel Securities LLC. Related cases? No. [25-13631] (ECF: John Tienken) [Entered: 11/03/2025 01:59 PM] |
| Filing 13 APPEARANCE of Counsel Form filed by Brandon C. Wolf for Citadel Securities LLC. Related cases? No. [25-13631] (ECF: Brandon Wolf) [Entered: 11/03/2025 01:33 PM] |
| Filing 12 APPEARANCE of Counsel Form filed by Brian Alan Richman for Citadel Securities LLC. Related cases? No. [25-13631] (ECF: Brian Richman) [Entered: 11/03/2025 01:23 PM] |
| Filing 11 APPEARANCE of Counsel Form filed by Helgi C. Walker for Citadel Securities LLC. Related cases? No. [25-13631] (ECF: Helgi Walker) [Entered: 11/03/2025 01:16 PM] |
| Filing 10 MOTION to intervene filed by William Savitt for Investors Exchange LLC. [10] [25-13631] (ECF: William Savitt) [Entered: 10/31/2025 07:42 PM] |
| Filing 9 Certificate of Interested Persons and Corporate Disclosure Statement filed by Attorney William Savitt for Not Party Investors Exchange LLC. On the same day the CIP is served, any filer represented by counsel must also complete the court's web-based stock ticker symbol certificate at the link here http://www.ca11.uscourts.gov/web-based-cip or on the court's website. See 11th Cir. R. 26.1-1(b). [25-13631] (ECF: William Savitt) [Entered: 10/31/2025 07:00 PM] |
| Filing 8 APPEARANCE of Counsel Form filed by Tala A. Doumani for Investors Exchange LLC Related cases? No. [25-13631] (ECF: Tala Doumani) [Entered: 10/31/2025 03:27 PM] |
| Filing 7 TIME SENSITIVE MOTION to expedite filed by Citadel Securities LLC. Motion is Opposed. [7] [25-13631] (ECF: Eugene Scalia) [Entered: 10/31/2025 03:02 PM] |
| Filing 6 APPEARANCE of Counsel Form filed by Eugene Scalia for Citadel Securities LLC Eugene Scalia for Citadel Securities LLC. Related cases? No. [25-13631] (ECF: Eugene Scalia) [Entered: 10/31/2025 02:54 PM] |
| Filing 5 Notice that no action will be taken on Motion to expedite [ # 4 ] filed by Attorney Eugene Scalia for Petitioner Citadel Securities LLC. Reason(s) no action being taken on filing(s): An Appearance of Counsel form has not been filed, See 11th Cir. R. 46-5. [Entered: 10/31/2025 02:26 PM] |
| Filing 4 TIME SENSITIVE MOTION to expedite filed by Citadel Securities LLC. Motion is Opposed. [4] [25-13631] (ECF: Eugene Scalia) [Entered: 10/31/2025 12:49 PM] |
| Filing 3 APPEARANCE of Counsel Form filed by Won S. Shin for Investors Exchange LLC Related cases? No. [25-13631] (ECF: Won Shin) [Entered: 10/30/2025 01:44 PM] |
| Filing 2 APPEARANCE of Counsel Form filed by William Savitt for Investors Exchange LLC Related cases? No. [25-13631] (ECF: William Savitt) [Entered: 10/30/2025 01:41 PM] |
| Filing 1 AGENCY PETITION / APPLICATION DOCKETED. Filed by Petitioner Citadel Securities LLC. Fee Status: Fee Paid. [Entered: 10/20/2025 10:45 AM] |
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