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Virtu Expands Broker-Neutral FX Offering

Virtu Financial today announces several product and service enhancements in its broker-neutral FX offering, supporting the firm’s aim to deliver a one-stop solution for buy side FX execution.

Virtu’s new offerings include an execution management platform for FX, broker-neutral access to dealer liquidity, FX trade analytics and data, as well as FX post-trade services.

The new FX execution capabilities are being added to Triton, the firm’s global multi-asset class EMS used by institutional trading desks to manage market access and execution. The new capabilities enable clients to execute FX directly with their liquidity providers by RFS protocol and directed execution such as dealer algos.

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.

Virtu’s global and multi-asset class TCA is being 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.

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,” says 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, adds, “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.”

Julie Ros

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