Virtu Financial has made a number of product and service enhancements in its broker-neutral FX offering, supporting the firm’s strategic initiative to deliver a one-stop solution for buy-side FX execution.
The new products include an execution management platform for FX, broker-neutral access to dealer liquidity, FX trade analytics and data and post-trade services.
“These initiatives fully leverage Virtu’s technology, analytics and post-trade service capabilities in supporting our buy-side clients,” said Douglas Cifu, co-founder and CEO, Virtu. “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.”
Virtu is adding new FX execution capabilities to Triton, its global multi-asset class trading platform, enabling buy-side firms to execute FX trades directly with their liquidity providers by RFS protocol and directed execution such as dealer algos.
The high-speed trading firm 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.
Meanwhile, for FX trade analytics and data, Virtu’s global and multi-asset class TCA is integrated with the firm’s workflow solutions, providing access to the organisation’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.
Virtu stated it is also expanding its global TradeOps post-trade services to include FX trades matching, confirmations and settlement instruction handling.
“The new capabilities address the significant client demand for FX workflows offered via a suite of integrated technologies and services,” said Michael Loggia, global head of workflow technology, Virtu. “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.”