Virtu enhances its broker-neutral FX offering
Provider of financial services and products Virtu Financial Inc (NASDAQ:VIRT) announced today a set of product and service enhancements in its broker-neutral FX offering.
Virtu’s scale, credibility and diverse client base coupled with its FX expertise, workflow technology and trade analytics helps position the firm as a trustworthy workflow provider in the FX market.
Virtu today announced 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.
Douglas Cifu, Co-founder and CEO, commented: “These initiatives fully leverage Virtu’s technology, analytics and post-trade service capabilities in supporting our buy-side clients. 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.”