Virtu Financial announces US launch of Execution Concierge Service

Maria Nikolova

ECS combines the full scope of Virtu’s execution services offering into one solution for the entire trade lifecycle.

Virtu Financial Inc (NASDAQ:VIRT) today announces the US launch of its outsourced trading business, Execution Concierge Service (ECS). ECS combines the full scope of Virtu’s execution services offering, ranging from multi-asset, broker-neutral technology platforms, trading tools and analytics, to high-touch trading services and global client coverage, into one solution for the entire trade lifecycle.

Depending on client’s needs, Virtu will offer three levels of Execution Concierge Service:

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

Douglas Cifu, Virtu Financial Chief Executive Officer, explains: “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.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.”

“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,” added 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 initially offer ECS to US domiciled clients. The company intends to expand the offering to other regions based on client demand.

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