Virtu Financial Stock Price, News & Analysis

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.

Virtu Financial (Nasdaq: VIRT) will announce its Q3 2021 financial results on November 3, 2021, before the US market opens. Following the announcement, a conference call will take place at 8:30 am (ET) to discuss the results. The call is open to the public and will also be available via a live webcast on the company's Investor Relations page.

Virtu Financial announced that Rosalind Li has received the Women in Derivatives 2021 Rising Star award. Joining Virtu in 2014, she has become known for her expertise in options trading and has contributed significantly to the firm's strategic growth in this area. Her leadership and collaborative approach have been crucial in navigating complex challenges in the options market. Virtu’s focus on diversity and inclusion has been enhanced through her efforts in mentoring and communication. The firm acknowledges Laine Litman for her contributions as well.

Virtu Financial (NASDAQ: VIRT) has announced its strategic investment in ClearList, which combines forces with GTS to enhance global market making for private markets. This partnership aims to improve liquidity, transparency, and efficiency in private equity trading. ClearList is recognized for its innovative technology, and with Virtu's expertise, it seeks to bring public market advantages to private companies. The investment highlights a focus on democratizing the equity marketplace for private firms, although investments in private securities carry inherent risks.

Virtu Financial, a leader in financial services, announced that CEO Douglas A. Cifu will participate in a fireside chat at the Rosenblatt Securities 14th Annual Global Exchange Leader Conference.

The event is set for September 23, 2021, starting at 9:30 am ET. This virtual conference will feature discussions among senior executives from various sectors, including exchange groups and regulatory bodies.

For more information, visit Virtu's investor relations page.

Virtu Financial reported second quarter 2021 results showing a significant decline in revenue and earnings due to lower trading volumes. Total revenues fell 39.4% to $549 million, with trading income down 48.3% to $384.8 million. Net income also dropped to $108.9 million, down from $335.3 million in Q2 2020. Despite the downturn, the company announced a quarterly cash dividend of $0.24 per share. Virtu's adjusted EBITDA decreased by 59.4% to $197.3 million, reflecting the challenging market conditions compared to the previous year.