Virtu Expands its Broker-Neutral FX Offering

Rhea-AI Summary

Virtu Financial announced significant enhancements to its FX products and services, aiming to create a comprehensive solution for buy-side clients in FX execution.

Key initiatives include:

• Execution Management Platform for FX, enhancing FX execution capabilities.
• Broker-Neutral Access to dealer liquidity through an advanced API trading infrastructure.
• FX Trade Analytics, integrating enhanced analytics with market insights.
• FX Post-Trade Services, expanding support for trade matching and confirmations.

These upgrades solidify Virtu's commitment to transparency and efficiency in the FX market.

Positive

• Expanded execution capabilities enhance client service.
• Broker-neutral access to dealer liquidity increases trading efficiency.
• Improved analytics provide better market insights for clients.
• Enhanced post-trade services streamline FX trading processes.

Negative

• None.

Enhancements to FX Products and Services Create a One-Stop Solution for Buy-Side Clients, Spanning the Full FX Execution Lifecycle.

NEW YORK, Oct. 20, 2020 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (NASDAQ: VIRT) a leading provider of financial services and products, announced today several product and service enhancements in its broker-neutral FX offering, supporting the firms’ strategic initiative to deliver a one-stop solution for buy-side FX execution.

Virtu’s scale, credibility and diverse client base coupled with its FX expertise, leading workflow technology and trade analytics helps position the firm as a trustworthy workflow provider in the FX market—where participants are seeking transparency, reduced implementation costs, data-driven execution, measurement and long-term clearing solutions.

Virtu is pleased to announce the following initiatives:

• Execution Management Platform for FX: Virtu is adding new FX execution capabilities to Triton, its global multi-asset class EMS used by institutional trading desks to manage market access and execution needs. The new capabilities enable clients to execute FX directly with their liquidity providers by RFS protocol and directed execution such as dealer algos.
• Broker-Neutral Access to Dealer Liquidity: Virtu is also making its API trading infrastructure available for broker-neutral FX client trading. While maintaining strict client data segregation, the technology allows clients to leverage Virtu’s low latency infrastructure and breadth of geographical and liquidity provider coverage.
• FX Trade Analytics and Data: Virtu’s global and multi-asset class TCA is integrated with the firm’s workflow solutions, providing access to Virtu’s market insights. Enhanced FX Analytics capabilities include Virtu FX reference rates with high time-granularity, FX algo analytics with direct dealer data capture and expanded coverage for the FX ACE market impact model. Analytics products can be accessed via the Virtu Analytics Portal and Open Technology API.
• FX Post-Trade Services: Virtu is also expanding its global TradeOps post-trade services to include FX trades matching, confirmations and settlement instruction handling.

“These initiatives fully leverage Virtu’s technology, analytics and post-trade service capabilities in supporting our buy-side clients,” said Douglas Cifu, Co-founder and CEO. “By broadening our range of products and services we are delivering our strategic vision of bringing transparency, and Virtu’s technology and excellence in trading and execution, to our clients and to the FX market globally.”

Michael Loggia, Global Head of Workflow Technology added “The new capabilities address the significant client demand for FX workflows offered via a suite of integrated technologies and services. Clients value the ease and convenience of multi-asset class trading and integrated analytics while leveraging the same range of capabilities they rely on for equities-based executions.”

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 are the new FX products and services launched by Virtu Financial in October 2020?

Virtu Financial introduced enhancements including an Execution Management Platform for FX, broker-neutral access to dealer liquidity, FX trade analytics, and post-trade services.

How do Virtu's FX enhancements benefit buy-side clients?

These upgrades offer improved execution capabilities, better market insights through analytics, and streamlined post-trade processes, all contributing to increased efficiency.

What is the purpose of Virtu's Execution Management Platform for FX?

The platform enhances FX execution capabilities, allowing clients to execute FX directly with liquidity providers.

How does Virtu Financial's API trading infrastructure work?

It provides broker-neutral access for client trading, leveraging low-latency technology while ensuring strict data segregation.

What impact do the FX trade analytics have on Virtu's clients?

Clients gain access to enhanced analytics that include Virtu FX reference rates and expanded FX algo analytics, improving decision-making.