Strengthening its Position as the Leader in Global, Broker Neutral, Multi-Asset Class TCA
NEW YORK, Sept. 17, 2019 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (VIRT), a leading provider of financial services and products that leverages cutting edge technology to deliver liquidity to the global markets and provide execution services and data, analytics and connectivity products to clients, announced today its release of new transaction cost and market impact models for FX and fixed income, as part of ongoing enhancements to its comprehensive multi-asset class TCA offering.
Kevin O’Connor, Virtu’s Head of Analytics and Workflow, commented, “Our ACE Analytics product has been the leading cost and market impact model in the equity markets for the last 10 years, extensively used by both buy and sell-side firms. Driven by strong client demand, extending the model to FX and FI reiterates our commitment to providing a full suite of broker neutral, multi-asset class analytics and trade execution solutions on our global platform.”
The newly released FX and FI models enable our pre-trade and post-trade TCA clients to better manage execution costs and perform portfolio construction analysis using Virtu’s ACE Model. Model applications include pre-trade execution strategy selection, performance benchmarking normalized for trade uniqueness and difficulty, portfolio trading optimization and portfolio liquidity metrics - functionality that was not previously available for FX and FI.
About Virtu’s Agency Cost Estimator (ACE) model
Virtu’s ACE models are econometric models that provide transaction cost estimates for equities, FX, and fixed income, accounting for the unique characteristics of the underlying instrument, market conditions, trade size and execution strategy. Our Transaction Cost Analysis (TCA) clients use ACE to evaluate and optimize trading strategies and model portfolio liquidity.
Our ACE models are the result of ongoing, multi-year research by Virtu’s financial engineering team and are calibrated against precise venue execution data and anonymized trading activity of Virtu’s extensive TCA client base, as represented in Virtu’s exclusive Global Peer Group dataset.
Virtu’s ACE models and TCA products currently cover global equities, ETFs, futures, foreign exchange (FX) and global fixed income (FI), including corporate and sovereign debt.
About Virtu Financial
Virtu is a leading provider of financial services and products that leverages cutting-edge technology to deliver liquidity to the global markets and innovative, transparent trading solutions to its clients. Leveraging its global market making expertise and infrastructure, Virtu provides a robust product suite including offerings in execution, liquidity sourcing, analytics and broker-neutral, multi-dealer platforms in workflow technology. Virtu’s product offerings allow clients to trade on hundreds of venues across 50+ countries and in multiple asset classes, including global equities, ETFs, foreign exchange, futures, fixed income and a myriad of other commodities. In addition, Virtu’s integrated, multi-asset analytics platform provides a range of pre and post-trade services, data products and compliance tools that clients rely upon to invest, trade and manage risk across global markets.
Virtu Financial, Inc.
© 2019 Virtu Financial, Inc. All rights reserved. Not to be reproduced or retransmitted without permission.
These materials are for informational purposes and are not intended to be used to make trading or investment decisions, they are not intended as an offer to sell or the solicitation of an offer to buy any security or financial product, and are not intended as advice (investment, tax or legal). The information contained herein has been taken from trade and statistical services and other sources we believe to be reliable but we do not represent that such information is accurate or complete and it should not be relied upon as such. No guarantee or warranty is made as to the reasonableness of the assumptions or the accuracy of the models or market data.
Securities products and services are offered by the following subsidiaries of Virtu Financial, Inc. In the U.S., Virtu ITG LLC or Virtu Americas LLC, both FINRA and SIPC members; in Canada, Virtu ITG Canada Corp., member Canadian Investor Protection Fund (“CIPF”) and Investment Industry Regulatory Organization of Canada (“IIROC”), MATCHNow® is a product offering of TriAct Canada Marketplace LP (“TriAct”), member CIPF and IIROC. TriAct is a wholly owned subsidiary of VIrtu ITG Canada Corp.; in Europe, Virtu ITG Europe Limited, registered in Ireland No. 283940 (“VIEL”) (VIEL’s registered office is Block A, 1 Georges Quay, Dublin 2, Ireland. VIEL is authorized and regulated by the Central Bank of Ireland), and also by Virtu Financial Ireland Limited, registered in Ireland No. 471719 (“VFIL”) (VFIL’s registered office is Whitaker Court, Whitaker Square, Third Floor, Block C, Sir John Rogerson’s Quay, Dublin 2, Ireland. VFIL is authorised and regulated by the Central Bank of Ireland); in Asia, Virtu ITG Hong Kong Limited (SFC License No. AHD810), Virtu ITG Singapore Pte Limited (CMS License No. 100138-1), and Virtu ITG Australia Limited (AFS License No. 219582).