Virtu Expands Analytics Platform by Offering TCA for FX Algos

Rhea-AI Summary

Virtu Financial (NASDAQ: VIRT) has launched a new FX algorithmic execution analytics product, expanding its global TCA (Transaction Cost Analysis) offering. This product utilizes FX benchmark data, a broker-neutral market impact model, and connections to bank algo providers to help clients assess algorithm performance. With a strong position in equity TCA for the buy-side, Virtu aims to enhance clients' understanding of execution strategies based on risk and market conditions. This addition showcases Virtu's commitment to leveraging technology for better trading solutions.

Positive

• Launch of new FX TCA product enhances analytics capabilities for clients.
• Utilizes diverse data sources, improving algorithm performance assessment.
• Strengthens Virtu's position as a leading provider of financial services.

Negative

• None.

NEW YORK, Aug. 03, 2020 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (NASDAQ: VIRT) a leading provider of global, multi-asset, financial services and products across the complete investment cycle, announced today the continued expansion of its global TCA offering with the launch of a new analytics product dedicated to FX algorithmic execution.

As consumers of its own products, Virtu incorporates first-hand learning into its Analytics tools that are designed to assist clients in analyzing their trading decisions.  Drawing on Virtu’s scale, execution and analytics expertise, the new addition to Virtu’s FX TCA offering merges data from three distinct sources:

• FX benchmark data sourced from Virtu’s market making business
• Virtu’s global, broker-neutral market impact model: FX Agency Cost Estimator (ACE)
• Direct connections to bank algo providers on behalf of clients that subscribe to the offering

This unique combination enables Virtu’s FX TCA for Algo clients to enhance their understanding of algo performance and compare FX algo providers and strategies to help improve their execution outcomes.

“Virtu is the leading equity TCA provider to the buy-side, serving 75% of the world’s largest asset managers and this extensive experience – combined with the expertise from Virtu’s multi-asset market making operations – uniquely positions us to support our clients’ analysis of algorithmic execution across asset classes. FX algo execution is increasingly relevant for a large portion of our clients. Our new FX TCA functionality is designed to enable both comparative metrics between providers and strategies, as well as to help clients determine which execution strategies to use given their risk appetite and market conditions,” according to Kevin O’Connor, head of Virtu’s broker-neutral Analytics and Workflow Technology division.

Virtu’s TCA products are offered through Virtu’s broker-neutral Workflow Technology and Analytics division, which provides solutions used by buy-side and sell-side firms around the globe to monitor, analyze and improve their 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 a myriad of 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 Virtu Financial's new product launched in August 2020?

Virtu Financial launched a new FX algorithmic execution analytics product as part of its TCA offering.

How does Virtu Financial's new FX TCA product help clients?

The product assists clients in analyzing algorithm performance and comparing FX algo providers and strategies.

What data sources are used in Virtu's new FX TCA offering?

It combines FX benchmark data, a broker-neutral market impact model, and connections to bank algo providers.

Which market segment does Virtu Financial serve with its TCA products?

Virtu serves the buy-side, including 75% of the world's largest asset managers.

What is the significance of the FX TCA product for Virtu Financial?

The product enhances Virtu's competitive edge in algorithmic execution analysis for clients.