$1.4 billion acquisition of KCG in 2017 results in 50% increasing in trading income for Virtu.
Doug Cifu says Virtu is “the ultimate market making firm” following a 50% surge in trading income.
Doug Cifu, CEO at Virtu, said BondPoint was better suited outside of the firm’s core operations.
Mike Cahill who worked at KCG for three years will oversee sales of CBOE’s Hotspot business in Europe.
Virtu has trimmed headcount and shut down unprofitable businesses following its $1.4 billion KCG takeover.
Deal creates major force in market making and technology.
Banks across the Street have recently made huge investments into their European electronic trading teams with a string of hirings.
Nell Axelrod joined KCG in 2015 and has worked at Morgan Stanley and JP Morgan.
Data and connectivity at Nasdaq could take a hit following merger as the exchange assesses full impact on revenues.
CEO at Virtu, Doug Cifu, said MiFID II means the buy-side need an execution only agency.