Tower Research Capital follows Virtu in joining Fidessa systematic internaliser program.
Tag: Virtu Financial
Virtu and Fidessa have entered into a liquidity agreement as MiFID II rules sweep the industry.
Doug Cifu says Virtu is “the ultimate market making firm” following a 50% surge in trading income.
Cboe Europe, the London Stock Exchange, Nasdaq and Aquis Exchange among voices supporting changes to MiFID II’s SI regime.
Vela’s SI data hub offers price and best bid and offer feeds for liquidity across various venues.
Virtu Financial in Ireland will register as an SI in Europe next year.
Doug Cifu, CEO at Virtu, said BondPoint was better suited outside of the firm’s core operations.
Liquidity streaming agreement follows similar partnership with Virtu Financial earlier this year.
Virtu has trimmed headcount and shut down unprofitable businesses following its $1.4 billion KCG takeover.
Changes to the provision of liquidity in Europe under MiFID II will see shift towards bilateral trading relationships.