Sumitomo Mitsui Trust Asset Management has become the latest buy-side institution to onboard Virtu Financial solutions across its execution business.
As part of the deal, the asset manager has successfully deployed Virtu’s multi-asset EMS, Triton Valor, alongside Virtu’s newly released suite of equity algorithms across Asia Pacific, Europe, Canada, Latin America, and the United States.
Also included as part of the Triton Valor integration are Virtu’s algo wheel routing capabilities, pre-trade and post-trade trading analytics, request for quote, liquidity sourcing and connection to Virtu’s POSIT Alert dark pool.
“By implementing Virtu’s investment suite, we have seen our workflow improve to a level we never thought we would be able to achieve,” said Kenji Takeda, head of the equity trading team at Sumitomo Mitsui Trust AM.
“Triton Valor is fast, efficient, and well connected to all venues. It provides cutting-edge functionality while remaining easy-to-use. We are impressed with how customisable Triton is and how fast Virtu responds to our request, greatly streamlining our trading workflow. We are excited to expand the use of the Virtu products internally across asset classes and within Japan.”
Read more – Virtu expands block trading workflow with automated dark liquidity seeking to tackle market fragmentation
The news follows the expansion of POSIT Alert by Virtu earlier this year, to include automated dark liquidity seeking in a bid to tackle fragmentation in the non-displayed markets and give traders an increased opportunity to execute any residual and reduce execution risk by sourcing incremental dark liquidity and completing orders more quickly.
Named Alert+, the upgraded workflow solution allows users to immediately elect to route residual share quantities not filled on POSIT Alert to be executed in the dark via Virtu’s Covert algorithm.
“We continue to expand our product offering in the region and this partnership with SMTAM exemplifies Virtu’s ability to deliver real value to the local investment community in Japan,” said Phil Chevalier, co-head of Virtu Execution Services APAC. “Our client-centric approach remains at the core, ensuring we listen to our clients, create tailored solutions, and utilise automation to enhance efficiency, scale, and lower costs.”