Virtu Financial Announces Formation of Consortium to Drive Expansion of RFQ-hub platform
Virtu Financial announces the formation of RFQ-hub Holdings LLC, a consortium aimed at creating a global institutional multi-asset RFQ platform.
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Rhea-AI Summary
Virtu Financial announces the formation of RFQ-hub Holdings LLC, a consortium aimed at creating a global institutional multi-asset RFQ platform. The initiative includes notable liquidity providers such as Citadel Securities, Flow Traders, Jane Street Capital, and BlackRock, with MarketAxess acquiring a significant minority stake. The RFQ-hub platform seeks to enhance liquidity for institutional investors and streamline trading in equities, fixed income, derivatives, and ETFs. This consortium is positioned to foster global expansion and improve execution for institutional clients.
Positive
- Formation of RFQ-hub Holdings LLC enhances Virtu's market position.
- Collaboration with major liquidity providers and asset managers strengthens service offerings.
- Potential for increased revenue through improved access and execution for institutional investors.
Negative
- None.
Details
News Market Reaction – VIRT
The recorded move for VIRT in the trading session of this news was +1.52%.
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RFQ-hub consortium aims to create the leading global institutional multi-asset RFQ platform
NEW YORK, May 19, 2022 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (Nasdaq:VIRT), a global market maker, broker and leading provider of global financial services technology, today announced the formation of RFQ-hub Holdings LLC to support the growth of RFQ-hub, Virtu’s bilateral multi-asset and multi-dealer request for quote platform. In addition to Virtu, founding consortium members include liquidity providers Citadel Securities, Flow Traders and Jane Street Capital, asset manager BlackRock and leading electronic trading platform MarketAxess. MarketAxess will be taking a significant minority stake in the platform.
RFQ-hub brings asset managers and liquidity providers together to help electronically deliver aggregated and competitive liquidity, streamline workflow and improve pricing with a focus on equity and fixed income listed and OTC derivatives, structured products and exchange-traded funds (ETFs). The goal of the newly formed consortium is to support the next stage of growth for RFQ-hub by fostering the creation of a global institutional platform designed specifically for these instruments.
"The founding members of this consortium represent a diverse array of market participants organizing for the common goal of improving access and execution of ETFs and derivatives for institutional investors," said Joseph Molluso, Co-President and Co-Chief Operating Officer of Virtu Financial. "Together, we believe we can expand RFQ-hub’s multi-asset offering to clients across the globe."
For more information on RFQ-hub, please visit www.virtu.com.
About Virtu Financial
Virtu is a leading provider of financial services and products that leverages cutting-edge technology to deliver liquidity to the global markets and innovative, transparent trading solutions to its clients. Leveraging its global market making expertise and infrastructure, Virtu provides a robust product suite including offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology. Virtu’s product offerings allow clients to trade on hundreds of venues across 50+ countries and in multiple asset classes, including global equities, ETFs, foreign exchange, futures, fixed income and myriad other commodities. In addition, Virtu’s integrated, multi-asset analytics platform provides a range of pre- and post-trade services, data products and compliance tools that clients rely upon to invest, trade and manage risk across global markets.
CONTACT:
Investor and Media Relations
Andrew Smith
investor_relations@virtu.com
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