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

Digital Assets

Germany-focused DekaBank taps METACO for digital asset custody offering

“Digital assets are a critical part of the future, a radical new way for how assets will be represented, from currencies to real estate.”

Technology

Eventus launches AML solution for TradFi and digital asset space

“Firms operating in traditional financial markets and digital assets alike are facing greater challenges than ever to protect themselves from those presenting a risk to their businesses and reputations, along with their standing with government regulators.”

Industry News

Qomply launches direct-to-FCA trade report solution that bypasses ARM

“Certainly, for back-reporting large volumes of data, QomplyDirect removes extra ARM fees by offering the flexibility of sending reports directly to the FCA via a firm’s own infrastructure.”

Executive Moves

BNP Paribas AM appoints Geoff Dailey as Deputy Head of US Equities

“Geoff has more than 20 years’ experience in the industry and as a key, senior member of the team with a strong investment pedigree and leadership profile, he is the natural successor for Pam.”

Retail FX

BUX joins forces with BlackRock for iShares ETFs offering in 7 European countries

“By joining forces with Blackrock, a renowned expert in financial markets and products, we have created a good solution for clients that are overwhelmed by the choice of products and don’t know how and when to start investing. Together, BUX and BlackRock can make a real impact on how Europeans invest and approach their financial future.”

Retail FX

CMC Invest gets in-principle approval to launch shares, ETFs, futures, and options in Singapore

“This announcement is a major milestone and validation for CMC Markets. Our business has been offering CFDs in Singapore since 2007, but the Capital Markets Services Licence for CMSI will allow us to serve our clients with more robust investment products, including shares and ETFs.”

Executive Moves

Eightcap hires ex-IG, ex-StoneX Alex Howard as CEO

“In my first weeks, the priority is to immerse myself in the business, including connecting with the global team, developing a nuanced understanding of strategy and operations, and listening to clients.”

Digital Assets

OneCoin founder Ruja Ignatova is selling penthouse in UK

OneCoin founder Ruja Ignatova, who steered one of the world’s biggest cryptocurrency frauds, is back into the spotlight more than five years after vanishing from the public eye.

Digital Assets

Bitpay taps MoonPay to offer access to +60 cryptocurrencies

Crypto payment service provider Bitpay said it’s partnering with exchange and web3 infrastructure provider MoonPay to provide its users with easier access to buy cryptocurrency instantly.

<