Virtu Expands Clients’ Access to Electronic Block Liquidity with Interlisted Conditional Orders
Virtu Financial, Inc. (NASDAQ: VIRT) announced the expansion of electronic block liquidity access for clients through Interlisted Conditional orders via POSIT Alert Canada, utilizing their Best Market Server (BMS) technology. This innovation allows traders to access cross-border block liquidity for U.S. and Canadian interlisted securities, enhancing trading capabilities. With this new feature, both Canadian and U.S. traders can match liquidity priced in different currencies, reflecting Virtu's strategic investment in their global Execution Services platform.
- Expansion of electronic block liquidity access via Interlisted Conditional orders.
- Enhances trading capabilities for U.S. and Canadian interlisted securities.
- Utilizes advanced technology (BMS) to connect traders with more liquidity options.
- None.
NEW YORK, May 27, 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 the expansion of clients’ access to electronic block liquidity via Interlisted Conditional orders.
Interlisted Conditional liquidity is available to Virtu clients via POSIT Alert Canada, which leverages Virtu’s Best Market Server (BMS) technology.
“With our Interlisted Conditional product, clients can now access cross-border block liquidity across U.S. and Canadian interlisted securities – connecting traders with an expanded set of liquidity for their execution needs. This offering reflects our focus on delivering innovative products to the Canadian market, including our new Virtu Frontier algo suite, our expanded footprint in Canadian ETFs, and the launch of FX trading through our Triton Valor EMS,” said Ian Williams, Chief Executive Officer of Virtu Canada.
“This latest enhancement is another example of our continued strategic investment in our global Execution Services platform and our firm-wide strategy of leveraging our scalable, multi-asset technology to service our clients,” said Stephen Cavoli, Global Head of Execution Services at Virtu Financial.
Interlisted Conditional orders can provide additional liquidity to POSIT Alert Canada for Canadian/U.S. interlisted securities by accessing U.S. algorithm flow which is trading in USD. U.S. algos handling orders for these interlisted securities can now send a USD conditional order to POSIT Alert Canada and Virtu will utilize our FX technology to represent the Canadian ticker in POSIT Alert Canada within the U.S. quote. Post-trade, all executions are automatically converted to the respective currency and settle in the local market, with the trade executed in Canada. Both Canadian and U.S. traders can benefit by matching these two sources of block liquidity in the same security but priced in different currencies.
Interlisted Conditionals are available in the U.S. Virtu Frontier algos.
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.
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