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Virtu-ITG Tie-Up Could Bring in Coveted Real Money Sector
Just a little more than a year after Virtu Financial acquired KCG Holdings, sources say the firm has been in talks since April with ITG about acquiring the tech provider. Virtu, like some of its nonbank rivals, has recently focussed on building its own client-centred business. Virtu’s acquisition of KCG last year brought with it established direct to client market making relationships, and ITG is expected to broaden the client type. Virtu declines to comment on the rumoured acquisition, but as some sources point out, Virtu’s top executives – CEO Doug Cifu and CFO Joseph Molluso – each have deep backgrounds in M&A.

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