Virtu launches new analytics product dedicated to FX algo execution - FinanceFeeds

Virtu launches new analytics product dedicated to FX algo execution

Maria Nikolova

Virtu Financial expands its analytics platform by offering TCA for FX algos.

Virtu Financial Inc (NASDAQ:VIRT) announced today the continued expansion of its global TCA offering with the launch of a new analytics product dedicated to FX algorithmic execution.

As consumers of its own products, Virtu incorporates first-hand learning into its Analytics tools that are designed to assist clients in analyzing their trading decisions. Drawing on Virtu’s scale, execution and analytics expertise, the new addition to Virtu’s FX TCA offering merges data from three distinct sources:

  • FX benchmark data sourced from Virtu’s market making business;
  • Virtu’s global, broker-neutral market impact model: FX Agency Cost Estimator (ACE);
  • Direct connections to bank algo providers on behalf of clients that subscribe to the offering.

This combination enables Virtu’s FX TCA for Algo clients to enhance their understanding of algo performance and compare FX algo providers and strategies to help improve their execution outcomes.

“Our new FX TCA functionality is designed to enable both comparative metrics between providers and strategies, as well as to help clients determine which execution strategies to use given their risk appetite and market conditions,” according to Kevin O’Connor, head of Virtu’s broker-neutral Analytics and Workflow Technology division.

Virtu’s TCA products are offered through Virtu’s broker-neutral Workflow Technology and Analytics division, which provides solutions used by buy-side and sell-side firms around the globe to monitor, analyze and improve their quality of execution and streamline workflows.

Read this next

Industry News

John McAfee indicted on crypto fraud charges

This is only the first case brought by the CFTC for a manipulative scheme involving digital assets

Industry News

ASIC announces regulatory costs ahead of CFD trading restrictions

The Australian regulator “is acutely aware of the challenges facing many businesses due to COVID-19”, but made no reference to the challenges FX and CFD brokers will face amid the leverage restrictions.

Industry News

Top lawyers say 2021 will be record year for AML penalties

Federal regulators have imposed more than $200 million in penalties on corporations, just in the last two months.

Industry News

Swedish crypto conman pleads guilty to $16 million scam

Karlsson was extradited from Thailand and is facing a maximum sentence of 20 years for the wire fraud and securities fraud charges and another 20 years for the money laundering charge.

Industry News

ESG premium on corporate bonds of +5bps in Europe

The top issuers of ESG bonds and loans in 2020 were France, Germany, and Luxembourg, compared to France, the UK, and Spain in 2019.

Technology

Finastra gains access to NICE Actimize AML and fraud solution

The AI-powered platform provides AML and fraud solutions, with real-time behavioral analytics and machine learning capabilities.

Industry News

A new dawn in stock trading is here. Your brokerage should embrace it!

London looks set to capitalize on the latest global equities trend of Spacs – This could well be the new trend for electronic trading firms. We investigate how.

Industry News

SEC launches Climate and ESG Task Force

The task force will develop initiatives to identify ESG-related misconduct and use data analysis to mine and assess information across registrants, to identify potential violations.

Industry News

Mobile trading takes center stage: Is your brokerage doing what it takes?

Mobile trading has grown in popularity in recent years to the point it became indispensable for the trading industry. The lifestyle changes and mass retail adoption amid the COVID-19 pandemic made sure there is no going back.