Virtu Adds SEC Rule 606 Reporting Aggregation Service to its Global Analytics Platform

Rhea-AI Summary

Virtu Financial, a leader in global financial services technology, has launched its SEC Rule 606 Reporting Aggregation service. This new offering allows US buy-side clients to analyze routing and execution practices across all brokers from a single platform. The service enables clients to assess broker performance using various metrics, including spread capture and fees, in compliance with the SEC's updated Rule 606(b)(3). It integrates with Virtu’s existing Analytics Portal, enhancing transparency in order routing and execution quality.

Positive

• Launch of SEC Rule 606 Reporting Aggregation service providing enhanced analytics for clients.
• Improves transparency and execution quality assessment across brokers.
• Integrates with existing Analytics Portal to facilitate custom reporting.

Negative

• None.

NEW YORK, Dec. 04, 2020 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (NASDAQ: VIRT) a leading provider of global financial services technology, announced today the launch of its SEC Rule 606 Reporting Aggregation service, providing US buy-side subscribers with the ability to analyze the routing and execution practices across all their brokers from a single access point.

Virtu’s 606 Reporting Aggregation service addresses the need for clients to easily analyze vast amounts of data that is now provided from enhanced broker disclosures as required under the SEC’s newly implemented Rule 606(b)(3). Virtu’s aggregation service helps facilitate performance comparison with flexible and intuitive visualizations across brokers and includes metrics such as spread capture, fees and rebates by venue, routing choices and resting times.

The new service complements Virtu’s Analytics Portal which will now allow clients to analyze their Rule 606(b)(3) data from each of their respective brokers and create custom reports, use any number of standard reporting templates and/or marry the data to their existing TCA analytics.

“The purpose of Virtu’s SEC Rule 606 Aggregation Service is to provide clients with actionable insights into how their broker-dealers route orders, providing more transparency around each broker’s routing and execution practices,” said Kevin O’Connor, Global Head of Virtu’s Trade Analytics and Data. “When coupled with Virtu’s global analytics infrastructure, this new service will help improve execution quality assessment across brokers via a single, user-friendly platform, further demonstrating the firm’s commitment to innovation and technology for its clients.”

Virtu’s 606 Reporting Aggregation service is available via the Virtu Analytics Portal, which is offered by Virtu’s broker-neutral Workflow Technology and Trade Analytics & Data division, a provider of multi-asset solutions to buy- and sell-side firms around the globe to help monitor, analyze and improve quality of execution and streamline workflows.

About Virtu Financial
Virtu is a leading provider of financial services and products that leverages cutting-edge technology to deliver liquidity to the global markets and innovative, transparent trading solutions to its clients. Leveraging its global market making expertise and infrastructure, Virtu provides a robust product suite including offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology. Virtu’s product offerings allow clients to trade on hundreds of venues across 50+ countries and in multiple asset classes, including global equities, ETFs, foreign exchange, futures, fixed income and myriad other commodities. In addition, Virtu’s integrated, multi-asset analytics platform provides a range of pre and post-trade services, data products and compliance tools that clients rely upon to invest, trade and manage risk across global markets.

Contact:
Investor Relations	Media Relations
Deborah Belevan, IRC, CPA	Andrew Smith
investor_relations@virtu.com	media@virtu.com

FAQ

What is the purpose of Virtu's SEC Rule 606 Reporting Aggregation service?

The service provides clients with insights on how broker-dealers route orders, enhancing transparency in execution practices.

How does Virtu's new service help clients analyze brokers?

It allows clients to compare performance metrics like spread capture and fees through a user-friendly platform.

When was Virtu Financial's SEC Rule 606 Reporting Aggregation service launched?

The service was announced on December 4, 2020.

What does the SEC Rule 606(b)(3) require?

It mandates enhanced broker disclosures to provide clients with more detailed information on order routing and execution practices.

What additional features does the Analytics Portal offer?

The portal enables custom reports, standard reporting templates, and integration with existing transaction cost analysis.