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.

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