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

ThinkMarkets expands CFDs lineup to over 4000 ETFs and shares

ThinkMarkets has expanded its service offering by incorporating 2500 new CFDs on shares and ETFs on its ThinkTrader platform.

Retail FX

France regulator warns investors of Omega Pro,

France’s financial markets regulator alerted investors that scams related to Omega Pro Ltd are beginning to circulate, with the blacklisted firm capitalizing on the situation to run a range of “unrealistic” offers.

Digital Assets

Web3 platform Grand Time paid $2 million in token earnings to date

Community-driven Web3 platform Grand Time said its offering – which includes a multifaceted platforms and its native token – has been gaining significant traction highlighted by impressive operational metrics.

Institutional FX

FX volumes at MOEX halved in April as ruble gains gorund

Currency trading at Moscow Exchange (MOEX) halted its upward route in April as monthly volumes nearly halved from a month earlier.

Digital Assets

FTX US adds stock trading, fractional shares to crypto platform

FTX US, the American subsidiary of crypto exchange FTX has kicked off stock trading feature to its customers in an effort to compete with popular platforms such as Robinhood and eToro.

Industry News

UK FCA empowered to remove brokers’ permissions in 28 days

Businesses with permissions they don’t need or use, risk misleading consumers. These new powers will enable us to take quicker action to cancel permissions that are not used or needed.

Industry News

CFTC charges $44m Ponzi scheme but millions may have fled to foreign crypto exchange

The CFTC alleged that defendants transferred millions of dollars to an off-shore entity that, in turn, may have transferred funds to a foreign cryptocurrency exchange. None of these funds were returned to the pool.


Saxo Bank deploys Adenza to address Basel and EBA requirements

The integration of ControllerView will enhance Basel-driven capital calculations and reporting at Saxo Bank in support of the bank’s multijurisdictional capital and liquidity reporting requirements throughout Denmark, Switzerland and UK, with plans to expand into the Netherlands.

Executive Moves

ComplySci appoints CTO, CPO, and CLO to further regtech’s product expansion

ComplySci offers compliance software used by more than 1400 global institutions to identify risk and address regulatory compliance challenges.