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Flashback Friday sponsored by Instinet

Traders Magazine Online News, February 8, 2019

John D'Antona Jr.

This week's FLASHBACK FRIDAY looks back to 2009 when ITG was a simple agency-only brokerage. Since then the firm has evolved to a full fintech firm that s about to become a part of the Virtu Financial.

Virtu recently made the following statements about the ITG purchase: 

  • Certain key regulatory approvals required to consummate the transaction have been obtained
  • As announced previously by ITG, all proposals submitted to a vote of ITG’s stockholders that are necessary for the completion of the transaction were approved at ITG’s special meeting held January 24, 2019
  • Upon successful completion of the merger, Virtu intends to maintain the separate legal identities of ITG’s client-facing broker dealers
  • Post-closing, Virtu intends to continue to maintain and enforce appropriate information barriers to segment and protect sensitive client data

“The dedicated professionals at ITG and Virtu are working hard to prepare for this significant transaction,” said Douglas Cifu, Chief Executive Officer of Virtu Financial. “We continue to receive positive feedback from clients and prospects regarding the combination, and we look forward to joining the key strengths of the two firms to deliver a broad suite of global, cross asset and impactful technology and trading services to clients."

Virtu expects the transaction to close during the first quarter of 2019 after the receipt of all required regulatory approvals and the satisfaction of other customary closing conditions.

Enjoy these photos from the client dinner 10 years ago at Michael Jordan's steakhoue in NYC's Grand Central Terminal.

Click here for the complete slideshow

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