SELL SIDE

Virtu adds QuantHouse tech to SI platform

Virtu Financial in Ireland will register as an SI in Europe next year.

By Hayley McDowell hayley.mcdowell@strategic-i.com November 01, 2017 12:46 PM GMT

Virtu Financial has teamed up with market data technology provider QuantHouse to expand access to its systematic internaliser (SI) platform.

The QuantFEED and QuantLINK tools are now available on Virtu’s disclosed SI platform, meaning clients will gain access to Virtu’s liquidity under MiFID II’s SI regime.

“QuantHouse’s decision to develop a QuantFEED and QuantLINK offering access to the Virtu SI is an important step allowing us to provide our firm quotes efficiently and transparently to a broader range of market participants,” said Christiaan Scholtes, head of markets in Europe at Virtu.

Virtu also revealed plans to register as an SI within Europe through its division in Dublin, Ireland.

Various other sell-side firms are also registering to operate as an SI ahead of MiFID II, although the regime itself has proved to be controversial.

Market participants have warned of greater fragmentation from firms registering multiple SIs for different asset classes, with some experts predicting the number of SIs could reach 100.