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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.

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