Virtu Financial, Inc. reports developments across a technology-driven trading business that provides market making and execution services in global, multi-asset markets. Its Market Making segment commits capital on a principal basis in cash, futures and options markets across equities, fixed income, currencies, cryptocurrencies and commodities. Its Execution Services segment provides agency trading, trading venues, proprietary technology, workflow tools, analytics and capital markets agency services for at-the-market offerings and buyback programs.
Recurring news includes quarterly and annual results, trading income by segment, adjusted trading and EBITDA metrics, dividend and share repurchase actions, and client or product updates for trading technology such as Triton, Virtu's multi-asset execution management system.
Virtu Financial (Nasdaq:VIRT) successfully completed its inaugural Global Automation Hackathon 2021, engaging over 50 employees in 20 teams. The event aimed to identify automation projects that could enhance efficiency within the company. Teams focused on learning new skills like Python, Machine Learning, and SQL, showcasing their creativity and teamwork in the process. The results highlighted Virtu's commitment to technology and employee development. Winning teams were recognized for creativity, new skills, teamwork, and time saved, reflecting the firm's inclusive culture and focus on continuous learning.
Bullish, a blockchain-based cryptocurrency exchange, recently announced its initial launch to select institutional clients after obtaining a Distributed Ledger Technology (DLT) license from the Gibraltar Financial Services Commission. The launch includes key features like a Hybrid Order Book and proprietary Liquidity Pools. Early institutional participants include Virtu Financial and Amber Group. Bullish has allocated US$3 billion in balance sheet assets for liquidity pools. Furthermore, the exchange plans to expand its offerings and aims for a full launch for retail customers in the future.
Virtu Financial (Nasdaq:VIRT) has expanded its Women’s Winternship program to Europe, following its success in the U.S. This initiative aims to introduce first- and second-year female undergraduates to careers in financial services. The European program will be virtually hosted and begins accepting applications for January 2022. Virtu’s CEO, Douglas Cifu, expressed confidence in the program's potential, highlighting the success of previous participants in transitioning to full-time roles. The initiative aligns with Virtu’s commitment to diversity and inclusion in the workplace.
Virtu Financial (NASDAQ: VIRT) celebrates its employees recognized at the Women in Finance Americas awards. Notable recipients include Erika Charnley, Tara Leyden, Laine Litman, and Rashmi Maniyar for their leadership and contributions in various sectors. Ten Virtu employees were nominated, highlighting the firm’s commitment to diversity and inclusion. CEO Douglas Cifu praised the impact of these women on the company's success. Virtu offers advanced trading solutions and liquidity services globally across multiple asset classes.
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Virtu Financial has launched a swaptions on CDS electronic workflow via its RFQ-hub platform, partnering with Union Investment, which manages €425B AUM. This initiative allows swaptions traders to enhance price discovery by electronically competing among multiple liquidity providers. The collaboration automates a previously manual process, streamlining workflows and improving trade documentation. CEO Rob Boardman emphasized Virtu’s commitment to technological innovation across multi-asset solutions. This electronic trading initiative aims to boost efficiency in asset management and enhance client service.
Virtu Financial, Inc. (NASDAQ: VIRT) has authorized an additional $750 million share repurchase program, building on its commitment to return capital to shareholders. For Q3 2021, the company reported a net income of $123.1 million and total revenues of $544.3 million, a decline of 17.0% year-over-year. Basic earnings per share decreased to $0.59, down from $0.92 in Q3 2020. The company continues to focus on maintaining a low-cost structure while providing innovative trading solutions. A quarterly cash dividend of $0.24 per share has been declared, payable on December 15, 2021.
Virtu Financial (NASDAQ: VIRT) announced that its European General Counsel, Victoria Stone, has been awarded the Women in Finance Europe’s Crystal Ladder award. This honor recognizes her leadership and contributions to the finance industry since joining Virtu in 2019, during its acquisition of ITG. Stone has played a critical role in legal consolidation across Virtu’s European operations and has been instrumental in product innovations like POSIT MTF UK. Michelle Butler from Virtu was also shortlisted for an award, highlighting the firm's commitment to empowering women in finance.
DigiPlex, a leader in sustainable data centers, has partnered with Virtu Financial (NASDAQ: VIRT) to enhance its trading capabilities at the Stockholm facility. This collaboration emphasizes low-latency connectivity and robust security, essential for Virtu's electronic trading technology. David Furlong, CEO of Virtu, noted the importance of the Nordic region for their operations, while Fredrik Jansson, CCO of DigiPlex, expressed commitment to providing top-tier infrastructure. The partnership aims to optimize order routing and supports Virtu's growth in Europe.