Citigroup is a step closer to becoming a leading player in the listed US options market with the $225m (€183m) cash acquisition of one of the largest US equity options market makers.

The deal, which gives the bank direct access to all significant US options exchanges, is part of Citigroup's strategy to build derivatives flow. It follows the bank's recent appointment as an electronic specialist on the Chicago Board Options Exchange. It will also help the bank ramp up its prime brokerage capabilities, and complement Citigroup's acquisition last month of Lava Trading, a cash and derivatives dealing systems provider.