Virtu Financial unveils significant enhancements to POSIT Alert Europe

Maria Nikolova

Following the acquisition of ITG in March 2019, Virtu has made significant investments to improve POSIT Alert’s back-end and front-end technologies.

Virtu Financial Inc (NASDAQ:VIRT) today announces enhancements to POSIT Alert Europe. POSIT Alert – Virtu’s global block indications network – brings together liquidity sourced directly from trader OMSs with conditional orders from electronic participants.

Since the acquisition of ITG in March last year, Virtu has made significant investments to improve POSIT Alert’s back-end and front-end technologies. The result is improvement to the client experience by providing faster trade invitations and light up indications for Alert front-end users. Thanks to the client experience improvement, POSIT Alert has seen growth in order flow, leading to more liquidity and better fulfillment rates.

Also, on November 19, 2019, POSIT Alert changed its indications logic to 1-to-1 light up functionality from multi-party light ups, where light up priority is given to POSIT Alert front-end users, followed by order size. This shift has led to the acceleration of the matching process through a simplified indication process, larger trade sizes, and fewer failed matches. These enhancements triggered a 16% increase in the average trade size in POSIT Alert.

Finally, the POSIT Alert front end now supports a broader range of network security options, in addition to the SOCKS protocol. These additional connectivity options provide our clients with more flexibility in terms of how they can connect to POSIT Alert, as well as broadening further the potential user base for the platform.

Examples of Virtu’s POSIT Alert latency reduction efforts include software enhancements and optimizations in the order matching logic, as well as hardware upgrades for the indications matching engine. There are also enhancements to reduce the latency of the application layer which delivers the front-end to client desktops.

Read this next

Retail FX

Banxso announces 8.7% interest rate on deposits in South Africa

“With Banxso, they can enjoy the benefits of both worlds – earning competitive interest and having the freedom to trade, all within the same platform.”

Industry News

FINRA to publish transaction details in U.S. Treasury securities

“Consistent with our longstanding practice, FINRA is introducing greater transparency in a calibrated and careful manner, benefiting liquidity and resilience in this critical market while also mitigating potential information leakage concerns.”

Institutional FX

OpenYield launches “cheap and easy” fixed income trading for brokers

“We’re on a mission to make bonds cheap and easy to trade, and are excited about the opportunity to build generational capital markets infrastructure.”

Digital Assets

Sumsub and Mercuryo publish a guide for VASPs: “Mastering Travel Rule Compliance”

“At Sumsub, we’ve concentrated our efforts on filling the gap in understanding the complexity of Travel Rule regulation and helping organizations find the best solution to stay safe and compliant while minimizing costs and avoiding potential risks of non-compliance. This guide we created with Mercuryo, our trusted partner, is the ultimate navigation tool all VASPs can consult.”

Digital Assets

Bitget Wallet Leads with Record Swap Volume & New Crypto Innovations

This week, Bitget Wallet achieved a milestone by surpassing Metamask with a record 388,757 Swap order transactions, securing the global lead. The significant 7-day trading volume, almost 68,000 more than its rival, underscores its liquidity and user trust. This robust activity signals Bitget Wallet’s prominent role and reliability in the dynamic crypto market.

Digital Assets

Embarking on a Digital Currency Journey

Imagine you’ve stumbled upon a treasure map, leading you to untold riches hidden in the vastness of the internet. Instead of gold coins and jewel-encrusted goblets, this treasure comes in the form of digital currencies, the modern-day loot coveted by many.

Reviews

Traders Union Experts Share The Trading Analyst Review For 2024

Navigating options trading in rapidly shifting markets poses a considerable challenge. This is where options trading alert services become invaluable. They aid traders in keeping abreast of evolving opportunities and market trends. In this assessment, Traders Union experts scrutinize The Trading Analyst alert service to ascertain its efficacy. 

Digital Assets

BlockDAG’s Presale Achieves $9.9M: Aiming For A 5000-Fold ROI As Cardano’s Price Rises And Fantom Launches Sonic

Explore Cardano’s surge, Sonic’s efficiency, and why BlockDAG’s growth makes it the top crypto choice. A deep dive into the future of blockchain investments.

Digital Assets

US, UK probe $20 billion Tether transfers tied to Russian exchange.

U.S. and UK authorities are investigating the movement of $20 billion in the USD-pegged stablecoin tether (USDT) through Moscow-based exchange Garantex.

<