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      <registrantType>IM</registrantType>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0001103882</cik>
          <ccc>XXXXXXXX</ccc>
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      <periodOfReport>06/30/2026</periodOfReport>
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      <yearOrQuarter>YEAR</yearOrQuarter>
      <reportCalendarYear>2026</reportCalendarYear>
      <reportingPerson>
        <name>Paloma Partners Management Co</name>
        <phoneNumber>203-862-8000</phoneNumber>
        <address>
          <com:street1>TWO AMERICAN LANE</com:street1>
          <com:city>GREENWICH</com:city>
          <com:stateOrCountry>CT</com:stateOrCountry>
          <com:zipCode>06836</com:zipCode>
        </address>
      </reportingPerson>
      <reportInfo>
        <reportType>INSTITUTIONAL MANAGER VOTING REPORT</reportType>
        <confidentialTreatment>N</confidentialTreatment>
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      <fileNumber>028-05431</fileNumber>
      <reportingCrdNumber>000138460</reportingCrdNumber>
      <leiNumber>549300IZIILPB9SOO273</leiNumber>
      <explanatoryInformation>
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      <otherManagers2>
        <investmentManagers>
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          <form13FFileNumber>028-16676</form13FFileNumber>
          <name>Paloma Partners Advisors LP</name>
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    </summaryPage>
    <signaturePage>
      <reportingPerson>Paloma Partners Management Co</reportingPerson>
      <txSignature>David Friedman</txSignature>
      <txPrintedSignature>David Friedman</txPrintedSignature>
      <txTitle>General Counsel and Chief Compliance Officer</txTitle>
      <txAsOfDate>08/28/2026</txAsOfDate>
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