Virtu Financial company logo

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virtu.com

Founded Year

1982

Stage

IPO | IPO

Total Raised

$200M

Date of IPO

4/16/2015

Market Cap

2.43B

Stock Price

23.52

Revenue

$0000 

About Virtu Financial

Virtu Financial is an electronic trading firm and technology-enabled market maker and liquidity provider to the global financial markets. The company generates revenue by buying and selling large volumes of securities and other financial instruments and earning small amounts of money based on the difference between what buyers are willing to pay and what sellers are willing to accept, aka "bid/ask spreads." Additionally, Virtu makes markets by providing quotations to buyers and sellers in securities and other financial instruments on unique exchanges, markets, and liquidity pools in countries around the world.

Virtu Financial Headquarter Location

900 Third Avenue 29th Floor

New York, New York, 10022,

United States

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Research containing Virtu Financial

Get data-driven expert analysis from the CB Insights Intelligence Unit.

CB Insights Intelligence Analysts have mentioned Virtu Financial in 2 CB Insights research briefs, most recently on Jan 6, 2021.

Expert Collections containing Virtu Financial

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Virtu Financial is included in 2 Expert Collections, including Capital Markets Tech.

C

Capital Markets Tech

814 items

Companies in the capital markets tech space are providing software and/or services for investment banks, hedge funds, investment managers, and so forth. Companies included use technology across the front, middle, and back-offices and streamline all pre- and post-trade operations.

F

Fintech

7,439 items

US-based companies

Virtu Financial Patents

Virtu Financial has filed 1 patent.

patents chart

Application Date

Grant Date

Title

Related Topics

Status

3/21/2014

6/9/2020

Financial markets, Electronic trading systems, Stock market, Derivatives (finance), Share trading

Grant

Application Date

3/21/2014

Grant Date

6/9/2020

Title

Related Topics

Financial markets, Electronic trading systems, Stock market, Derivatives (finance), Share trading

Status

Grant

Latest Virtu Financial News

Proposed SEC changes could harm retail investors, says industry expert

Jun 21, 2022

The Trade Proposed SEC changes could harm retail investors, says industry expert Doug Cifu, chief executive of market maker Virtu Financial, challenges SEC chair Gary Gensler’s recent speech proposing changes to address deficiencies in the US trading system. In a recent speech, Gary Gensler, chair of the US Securities and Exchange Commission (SEC), addressed a number of deficiencies that have been identified in the US trading system – providing suggestions on how these issues could be resolved. In particular, Gensler provided recommendations to update key aspects of national market system rules including improving minimum tick sizes, National Best Bid and Offer, disclosure of order execution quality, best execution and order-by-order competition. “Right now, there isn’t a level playing field among different parts of the market: wholesalers, dark pools, and lit exchanges. Further, the markets have become increasingly hidden from view… It’s not clear, with such market segmentation and concentration, and with an uneven playing field, that our current national market system is as fair and competitive as possible for investors,” said Gensler. Gensler’s proposals have been met with a mixed response from industry participants, particularly from those who believe the new changes might actually harm retail investors. Speaking to The TRADE Doug Cifu, chief executive of Virtu Financial, said: “The SEC should engage all market participants before proposing significant, untested changes that would harm retail investors’ execution quality and reduce retail investors’ access to our capital markets.” In addition, Cifu highlighted how Gensler’s proposals to promote as much competition as possible for retail investors on an order-by-order basis could risk benefits that retail investors currently gain. Gensler has called for recommendations to enhance order-by-order competition, which may be through open and transparent auctions or other means, unless investors get midpoint or better prices. “Order-by-order competition enables selective competition because it removes the retail brokers’ ability to demand best execution from wholesalers on every order,” highlighted Cifu. “While this may enhance wholesaler profitability, it risks an estimated $13 billion/yr in price and size improvement benefits that retail investors enjoy today.” Another area Gensler focused on in his speech was the National Best Bid and Offer (NBBO); a quote designed to aggregate information across different exchanges, providing investors with important pre-trade transparency. The NBBO currently includes round lots, which are quotes for 100 shares or more. Gensler noted that retail investors, who are more likely to buy or sell at odd lot prices, are unable to see these prices. Gensler proposed the acceleration of the Market Infrastructure Rule – a rule that created a new round lot definition, which, depending upon share price, can be anywhere between 1 and 100 shares. The SEC chair proposed an acceleration of the rule in the hope that it would allow retail investors to see better prices sooner. But Cifu warned that: “The SEC should carefully examine how the auction-based market in options has weakened the options NBBO before proposing rule changes that mimic the options markets.” Speaking holistically on the proposed changes by Gensler, Cifu concluded that: “The entire market will be evaluating any proposal to ensure it complies with the rulemaking requirements, aligns with the SEC’s mandate, and includes complete economic and competitive analysis.” Elsewhere, the brokerage industry has been exploring alternatives to payment for order flow (PFOF) following Gensler’s proposed changes to the practice. Gensler has called for recommendations on how the SEC can mitigate conflicts with respect to payment for order flow and rebates. Players such as Apex Clearing – which handles trades for fintechs including SoFi and Webull – have been building a marketplace for matching customer orders. The move could potentially allow stock exchanges to compete directly with market makers such as Virtu, creating more competition and translating into better prices for retail investors.

Virtu Financial Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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Virtu Financial Rank

  • When was Virtu Financial founded?

    Virtu Financial was founded in 1982.

  • Where is Virtu Financial's headquarters?

    Virtu Financial's headquarters is located at 900 Third Avenue, New York.

  • What is Virtu Financial's latest funding round?

    Virtu Financial's latest funding round is IPO.

  • How much did Virtu Financial raise?

    Virtu Financial raised a total of $200M.

  • Who are the investors of Virtu Financial?

    Investors of Virtu Financial include Temasek and Silver Lake.

  • Who are Virtu Financial's competitors?

    Competitors of Virtu Financial include Katana Labs and 1 more.

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