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Virtu Announces Launch of New Outsourced Trading Service

Traders Magazine Online News, October 18, 2019


NEW YORK (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (VIRT), a leading provider of financial services and products that leverages cutting-edge technology to deliver liquidity to the global markets and provide execution services and data, analytics and connectivity products, today announced the US launch of its outsourced trading business, Execution Concierge Service (ECS). Virtu’s ECS combines the full scope of Virtu’s execution services offering—multi-asset, broker-neutral technology platforms, trading tools and analytics, high-touch trading services and global client coverage—into one solution for the entire trade lifecycle. 

“When outsourced trading or operational assistance is needed, a client should have the confidence it will be done right from start to finish. The acquisition of ITG strengthened our global product suite and put us in a unique position to extend to clients our operational leverage and trading acumen, particularly in products and regions where our clients do not currently participate,” said Douglas Cifu, Virtu Financial Chief Executive Officer. “Virtu’s Execution Concierge Service offers clients a one-stop solution with a product for every step of the trading lifecycle, making ECS a complete, front-to-back workflow solution.”

Designed to scale with a client’s needs, Virtu will offer three levels of Execution Concierge Service:

  • Full Service: Our specialists act as your trading arm—managing the trade throughout the entire lifecycle
  • Hybrid: Supplement your in-house capabilities with the power of Virtu
  • On demand: Seamless coverage on an extended or ad hoc basis to support your trading staff during absences or high-volume periods

“Due to growing cost and revenue pressures, along with operational and regulatory challenges, we have seen managers increasingly turn to outsourced solutions in varying degrees,” said Virtu’s Jack Pollina, Head of Outsourced Trading.  “Virtu’s offering is designed to function as a seamless extension of a client’s trading desk.  Virtu’s ECS provides US asset managers with experienced trading and settlement coverage in all major regions across the globe, and our brokerage and broker-neutral platform of tools and trade analytics, such as Triton EMS, TCA, CSA, FIX network, and research credit management, truly separate Virtu from the competition.”

Virtu will first offer ECS to US domiciled clients with plans to expand to other regions based on client demand.

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