Virtu Financial and Arqaam Capital Announce Co-operation to Expand Market Access for Equity Algorithmic Trading

Rhea-AI Summary

Virtu Financial (NASDAQ: VIRT) announced a non-exclusive cooperation agreement with Arqaam Capital to deploy its global equity execution algorithms in MENA markets. Arqaam will offer market access and expertise, allowing both firms' clients to leverage advanced trading solutions. This collaboration aims to enhance execution options for clients, demonstrating Virtu's commitment to the region. Virtu's algorithms received top ratings in The TRADE’s 2020 Algorithmic Trading Survey, highlighting their effectiveness in competitive environments.

Positive

• Collaboration with Arqaam Capital enhances Virtu's market access in MENA.
• Utilization of Virtu's award-winning algorithms improves trading solutions for clients.
• Virtu's algorithms ranked highly in The TRADE’s 2020 Algorithmic Trading Survey.

Negative

• None.

NEW YORK, March 14, 2022 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (NASDAQ: VIRT), a leading global provider of financial services and products that leverages cutting edge technology to deliver innovative, transparent trading solutions to our clients and liquidity to the global markets, today announced a non-exclusive co-operation agreement with emerging markets specialist Arqaam Capital (Arqaam) to deploy Virtu’s award-winning¹ global equity execution algorithms to clients in Middle-Eastern and North Africa (MENA) markets.

Under the collaboration, Arqaam will provide market access, settlement and local expertise in MENA equity markets to Virtu clients and Arqaam clients will be able to leverage Virtu’s suite of trading algorithms to access global markets, including MENA.

“Since the launch of Arqaam Capital in 2007, both investors and markets in the MENA region have developed significantly. Our clients expect that we deliver world-class execution solutions across the globe and, thanks to our collaboration with Virtu, we will be able to offer our clients a suite of the premier algorithmic trading tools,” said Amr ElShamy, Managing Director and Head of Electronic Trading, Arqaam Capital.

“This co-operation extends Arqaam’s local market access and expertise to Virtu’s global client base and further demonstrates Virtu’s commitment to clients who want to execute and settle in the MENA region. Given our history, Arqaam was the logical collaboration choice as we work to expand the MENA market coverage of Virtu’s equity algorithms,” said Rob Boardman, CEO Virtu Financial EMEA. “The global reach and scale of Virtu’s algorithmic trading platform combined with Arqaam’s MENA market access and local expertise has powerfully enhanced our respective execution platforms–providing our clients with greater optionality.”

This arrangement is aimed at providing new channels to achieve best execution for the clients of each firm.

For more information about Virtu’s algorithmic trading platform and other execution tools, please visit our client solutions page at www.virtu.com or contact us at info@virtu.com.

¹Virtu algos took the Top Score out of 31 other competitors in The TRADE’s Global 2020 Algorithmic Trading Survey of Hedge Funds and #1 Overall Large Cap Algo Provider in the same survey.

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.

About Arqaam Capital
Established in 2007, Arqaam Capital is a specialist emerging markets financial services company, bringing regional and international product offerings to the emerging markets. Arqaam Capital combines international best practice with expertise in the markets in which we operate. Our primary role is to provide financial intermediation and create investment opportunities for emerging markets investors looking to invest in their own markets and abroad, as well as international investors seeking opportunities in target emerging markets.

Contact:
For Virtu: Andrew Smith Investor & Media Relations investor_relations@virtu.com	For Arqaam: Amr ElShamy Head of Electronic Trading info@arqaamcapital.com

FAQ

What is Virtu Financial's recent announcement regarding MENA markets?

Virtu Financial announced a cooperation with Arqaam Capital to deploy its equity execution algorithms in MENA markets.

How does the partnership with Arqaam Capital benefit Virtu Financial clients?

Clients will gain access to enhanced trading solutions and local market expertise in MENA.

What recognition did Virtu's algorithms receive in 2020?

Virtu's algorithms were ranked as the Top Score in The TRADE’s Global 2020 Algorithmic Trading Survey.

What services will Arqaam provide in the partnership with Virtu?

Arqaam will offer market access, settlement, and local expertise in MENA equity markets.