IIROC admits Virtu Financial Canada as member

Maria Nikolova

Virtu Financial Canada, ULC is admitted to membership in the Investment Industry Regulatory Organization of Canada, effective March 28, 2019.

The Investment Industry Regulatory Organization of Canada (IIROC) has just announced that it has admitted Virtu Financial Canada, ULC to membership. The change is effective March 28, 2019.

The directors and executives of the business are:

  • Justin Algor, Ultimate Designated Person, Executive, Director (Industry), Non-Trading and Supervisor of Traders;
  • Christy Moccia, Chief Compliance Officer, Executive, Director (Industry), Non-Trading;
  • Cindy Lee, Chief Financial Officer, Executive, Non-Trading.

Let’s recall that, earlier in March, the Ontario District Council of the Investment Industry Regulatory Organization of Canada approved the change of control of ITG Canada Corp. (ITG Canada) and TriAct Canada Marketplace LP (TriAct) whereby Virtu Financial Inc (NASDAQ:VIRT) and its affiliates acquired a 100% interest in ITG Canada and TriAct.

IIROC has also been informed that ITG Canada Corp. has changed its name to Virtu ITG Canada Corp.

The announcement by IIROC was made several days after Virtu Financial announced the completion of its acquisition of Investment Technology Group, Inc. (NYSE:ITG) in a cash transaction valued at $30.30 per ITG share, or a total of approximately $1 billion.

Upon completion of this acquisition, Virtu is set to implement a Client Information Security Program with respect to its broker-neutral client offerings (including, but not limited to, Analytics, Workflow Technology, and Commission Management). As part of this program, Virtu will host Client Information Security Forums, through which the Company will provide information regarding the CISP, receive input from interested clients regarding their information security needs and discuss industry best practices and standards.

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