Virtu Financial (VIRT) & SMTAM Unite to Improve Trading Workflow
Virtu Financial, Inc. VIRT recently announced that its Triton Valor execution management system, POSIT Alert, Trading analytics and global equity execution algorithms have been deployed by Sumitomo Mitsui Trust Asset Management (“SMTAM”). This collaboration highlights that the core value proposition of VIRT is gaining popularity due to its unique products.
This move bodes well for Virtu Financial’s Execution Services segment as it aims to diversify its revenue base. This partnership will give rise to more commissions earned and, in turn, greater contribution by this segment to the company’s top line in the future. The integration of Virtu Financial’s pre-trade and real-time analysis directly into the execution workflow offers traders transparency and provides decision support to help mitigate risk and manage implementation costs across global equities.
SMTAM will be able to streamline and improve trading workflows due to Triton’s customizable feature. SMTAM also aims to expand its use within various asset classes internally and within Japan. It will also leverage Virtu Financial’s equity algorithms from its global suite across Canada, Latin America, the United States, Europe and Asia Pacific. This collaboration highlights the success of Virtu Financial’s ambitious investments in execution products and Japan. VIRT aims to maintain a client-centric approach, create customized solutions, increase automation, enhance efficiency and reduce costs.
This partnership highlights Virtu Financial’s unwavering focus on developing cutting-edge technologies to deliver liquidity in markets and transparent trading solutions to clients. This should help further solidify its market-leading position as a financial services provider by enhancing its core value proposition, its technology platform.
Zacks Rank and Price Performance
VIRT currently has a Zacks Rank #3 (Hold).
Shares of Virtu Financial have gained 3.3% in the past six months against the industry’s 0.5% decline.
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Stocks to Consider
Some better-ranked stocks in the broader finance space include Arch Capital Group Ltd. ACGL, Aflac Incorporated AFL and Chubb Limited CB. Arch Capital currently sports a Zacks Rank #1 (Strong Buy), while Aflac and Chubb carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Arch Capital’s earnings surpassed estimates in each of the last four quarters, the average surprise being 26.8%. The Zacks Consensus Estimate for ACGL’s 2023 earnings and revenues indicates a rise of 38.2% and 30.6%, respectively, from the year-ago actuals. The consensus mark for ACGL’s 2023 earnings has moved 2.3% north in the past 30 days.
The bottom line of Aflac beat estimates in each of the trailing four quarters, the average beat being 7.8%. The Zacks Consensus Estimate for AFL’s 2023 earnings indicates a rise of 12.2% from the year-ago tally. The consensus mark for AFL’s 2023 earnings has moved 1.4% north in the past 30 days.
Chubb’s earnings outpaced estimates in three of the trailing four quarters and missed the mark once, the average surprise being 3.4%. The Zacks Consensus Estimate for CB’s 2023 earnings indicates a rise of 19.3%, while the same for revenues suggests an improvement of 8.8% from the respective year-ago actuals. The consensus mark for CB’s 2023 earnings has moved 0.8% north in the past 30 days.
Shares of Arch Capital, Aflac and Chubb have gained 67.4%, 20.6% and 4.6%, respectively, in a year.
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