Virtu Financial— Shares of Virtu Financial rose as much as 4% after J.P. Morgan upgraded the stock to overweight from not rated, with a $23 December 3323 price target.
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Virtu had planned to go public in 2014, but pulled the plug on the move because of choppy markets and lingering questions around how high-frequency trading firms like Virtu make money.
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N) said on Tuesday it appointed Virtu Financial Inc (VIRT.
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Virtu and KCG were each up more than 11 percent.
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High-speed trading company Virtu Financial will also back the exchange.
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Sandler O'Neill + Partners is also acting as a financial advisor to Virtu.
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Matthew Ceslock, an equity trader with Virtu Financial, agreed with that prediction.
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He will take over from current chairman and Virtu founder Vincent Viola.
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Machievelli referred this struggle as virtu (the action) and fortuna (luck or fortune).
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Shares of Virtu also closed up 10 percent on Thursday after the news.
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Virtu expects to fund the deal through debt and the sale of stock.
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Other leading destinations include Two Sigma Securities and Virtu Americas, the filings said.
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For more information on the transaction, please refer to Fitch's press release, 'Fitch Affirms Virtu at 'BB-' Following KCG Announcement; Outlook Stable' and 'Fitch Rates Virtu Entity and New Secured Term Loan 'BB-'; Outlook Stable', available on Fitch's website at www.fitchratings.com.
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He also added slightly to his positions in Virtu Financial, Facebook and Domino's Pizza.
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I also bought some VIRT, Virtu [Financial], because they do HFT, high-frequency trading.
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Virtu has offered KCG $20 per share, a 12.7% premium to the firm's Wednesday close.
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Virtu said it expects to migrate trading of the combined company onto a single platform.
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Knight later became KCG and then was taken over by Citadel Securities rival Virtu Financial.
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That year, he helped advise KCG Holdings in its $1.4 billion sale to Virtu Financial.
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O) Chief Executive Robert Greifeld will become chairman of trading firm Virtu Financial Inc's (VIRT.
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N that could help Virtu bolster its businesses that have softened under reduced market volatility.
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Terranova sold half of his positions in Domino's Pizza, Facebook, Halliburton, Range Resources and Virtu Financial.
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He is the former head trader for Asia Pacific at the high-frequency trading firm Virtu.
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Virtu Financial's offer of $20 per share represents a 12.7 percent premium to KCG's Wednesday close.
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JPMorgan Securities was the lead financial adviser to Virtu, while KCG was advised by Goldman Sachs.
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In a regulatory filing at the time, Virtu said regulators were looking into its trading practices.
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"There's oil, there's manufacturing numbers here in the U.S.," said Matthew Cheslock, equity trader at Virtu Financial.
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Following the close of the transaction, Virtu Chief Executive Douglas Cifu will lead over the combined company.
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Ivan Cajic, Virtu Financial's Americas director of index and ETF research, projects turnover across the Russell 3000 .
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Watch market maker Virtu, up 643% this month, which benefits during periods of high trading and volatility.
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Mr. Viola has a net worth of almost $1.8 billion and is a co-founder of Virtu.
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Robert Greifeld is a co-founder of Cornerstone Investment Capital LLC and chairman of Virtu Financial, Inc.
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Virtu reported $328.1 million in revenue, handily topping analysts' expectations of $234.5 million, mainly on lower compensation expenses.
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N for about $1 billion, ITG said on Wednesday as Virtu looks to add more big institutional investors.
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Along with Virtu CEO Douglas Cifu, he bought the Florida Panthers of the National Hockey League in 2013.
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He founded Virtu Financial in 2008, one of the world's largest providers of financial and market making services.
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Than word came that high-frequency trading firm Virtu Financial was making an offer to buy Knight Capital.
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After a rough year for the company's stock, Virtu Financial has potential to rebound, according to J.P. Morgan.
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In July, Riis and Christensen announced that they would take over the sponsorship of Team Virtu Pro-Veloconcept.
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Mr. Greifeld is the chairman of Virtu Financial Inc, the former chairman and chief executive of Nasdaq Inc.
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VFH is a wholly-owned subsidiary of Virtu and as such, its ratings are aligned with those of Virtu and reflect the firm's established market position as a technology-driven market-maker across various venues, geographies and products, its diversified and growing revenue base, scalable business model, and experienced management team.
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"In the not-so-distant past, I remember oil dictated what the market did," Virtu Financial's Matthew Cheslock said.
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In 2008, Viola founded Virtu Financial, a leading electronic trading firm, and he took it public in April 2015.
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I CAN MAKE AN ARGUMENT BOTH WAYS SO THAT'S WHY, YOU KNOW, WITH VIRTU I'M PLAYING IT BOTH WAYS.
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The would-be exchange's backers include Citadel Securities, Virtu Financial, Bank of America , Charles Schwab Corp and TD Ameritrade .
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Along with Virtu CEO Douglas Cifu, Viola bought the Florida Panthers of the U.S. National Hockey League in 2013.
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A firm headed by Bob Greifeld and Glenn Hutchins is investing in Virtu in partnership with GIC and PSP Investments.
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On the other, tiny nonbank computerized firms like Virtu that barely existed a decade ago have driven down trading commissions.
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"Virtu and KCG both have a heritage of using technology to make markets more efficient," Cifu said in a statement.
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Vincent Viola, the CEO of Virtu Financial, bought the house in 2005 for $20 million, according to The Real Deal.
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As oil prices move lower, Virtu Financial founder Vincent Viola said there will be steep repercussions for American oil producers.
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Like Swift, two of Mr. Viola's other major assets, Virtu and Independent Bank Group, are regulated by the federal government.
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So this is an attempt to make it up on volume, plus allows Virtu to move into the retail wholesaler market.
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Mr. Concannon joined BATS as president in December 2014, after spending five years at Virtu Financial, a high-frequency trading firm.
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Doug Cifu, CEO of Virtu, one of the largest market makers, noted that volumes increased dramatically on the afternoon of Feb.
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Viola is a West Point graduate and U.S. Army veteran who has founded companies, including the high-frequency trading firm Virtu Financial.
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Vincent Viola swapped a job at an exchange for Virtu Financial, the electronic-trading firm he founded that made him a fortune.
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Ivan Cajic, Virtu Financial's Americas director of index and ETF research, projects turnover across the Russell 3000 to total about $70 billion.
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Then there's Batillion Runner, owned by Vincent Viola, executive chairman of Virtu Financial and former head of the New York Mercantile Exchange.
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The Outlook also reflects the belief that Virtu will maintain its low market-risk profile, consistent management team, and strong liquidity levels.
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Virtu, whose founder, Vincent Viola, recently withdrew himself as President Trump's nominee for Army secretary, is seeking to expand its client business.
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"Fractional share trading is an innovative, market-led solution that makes high-priced stocks accessible to more investors," a Virtu spokesperson said.
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So, to recap, JPMorgan and Sandler O'Neill + Partners are advising Virtu on it's acquisition of KCG, which is being advised by Goldman Sachs.
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KCG Holdings – KCG is the target of a takeover bid by rival trading firm Virtu Financial, worth $18.50 - $20.00 per share in cash.
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Shares of KCG hit a record high of $19.73 in early trading on Thursday, while shares of Virtu were up about 8 percent.
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President-elect Donald Trump plans to nominate Virtu Financial founder Vincent Viola as secretary of the Army, the Trump transition team said on Monday.
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Last year, JP Morgan struck a deal with Virtu that sees the HFT firm provide technology to the US dealer for electronic Treasury trading.
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Virtu is also one of nine founding members of the Members Exchange, a low-cost bourse being built to challenge NYSE and Nasdaq Inc.
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KCG Holdings (KCG) is the target of a takeover by rival trading firm Virtu Financial (VIRT), worth $18.50 to $20 per share in cash.
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Other off-exchange trading takes place when high-speed trading firms like Virtu purchases retail order flow from brokers and execute the transactions themselves.
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Trading firms Virtu Financial and PDQ Enterprises, as well as agency broker Clearpool, threw their support behind Bats in separate letters to the SEC.
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Virtu is also the designated market maker for JPMorgan's stock on the New York Stock Exchange, tasked with making sure the stock trades smoothly.
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"We had gone very far, very fast," Matthew Cheslock, a trader at Virtu Financial, said from the floor of the New York Stock Exchange.
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VirtCoin put out a news release on Thursday claiming that Virtu was about to launch a digital currency, listing Virtu's CEO as the contact person.
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First of all, Clementine Pennyfeather (Angela Sarafyan) drops Bernard off at Elsie's cave prison right after Dolores' "Virtu E Fortuna" battle against the Delos Forces.
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The company hired Chris Concannon, now the chief executive, from Virtu Financial, a high-frequency trading firm that conducted its own public offering last year.
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Payment-for-order-flow refers to how market makers, like Citadel Securities or Virtu Financial, pay for the first crack at executing a stock order.
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Virtu Financial has made a bid for KCG Holdings that would value the company at as much as $1.33 billion, The Wall Street Journal reports.
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The firm said that Virtu, the market-making giant, clears some of Interactive Brokers' fractional trades, but figures around that trade volume is not tracked.
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"The reality is that the new 'floor' of the NYSE is actually now located on the roof of a nondescript data center in Mahwah," Virtu said.
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"VirtCoin has no relationship, connection, or affiliation to Virtu Financial and its officers and directors," Virtu's head of investor relations, Andrew Smith, said in a statement.
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For a start, Virtu and KCG are part of a new breed of tech-savvy traders that have been taking over Wall Street in recent years.
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Virtu Financial said it would buy rival KCG Holdings in a $1.4 billion deal that brings together two major players in the U.S. electronic trading space.
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He founded high-frequency trading firm Virtu Financial Inc and served as chairman of the New York Mercantile Exchange, where he began his financial services career.
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Virtu Financial founder Vincent Viola said he believes oil will test the $35 level again, which not adjusting for inflation is more like $28 to $32.
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There are also earnings expected from Time Warner, Royal Dutch Shell, Siemens, Priceline, A-B InBev, Human, Kate Spade and Virtu Financial, among others before the bell.
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ET. There are also earnings from Duke Energy, Humana, NRG Energy, PG&E, Madison Square Garden, FirstEnergy, NGL Energy Partners, Shutterstock and Virtu Financial before the bell.
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Realistically, having a human in the loop means you won't be forging the next Virtu Financial as a high-frequency trader, but the notifications are still helpful.
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The transaction would expand the size of Virtu Financial's business as low trading volatility and increasing costs have eaten into profits at market-making and trading firms.
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The trio join a group of some of the biggest players on Wall Street already backing MEMX, including Morgan Stanley, Citadel Securities, Virtu Financial and Charles Schwab.
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His new manifesto must address the problems of 21st-century politics, and to do so, he takes President Virtu on a virtual tour of recent world history.
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Virtu Financial Inc announced last month that it would buy rival KCG in a $1.4 billion deal bringing together two major U.S. electronic trading and market-making firms.
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Virtu Financial, the high-speed trading firm, will acquire KCG Holdings in an all cash transaction deal for $1.4 billion, according to a news release out April 20.
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Stripping out one-time expenses, Virtu said it earned 31 cents a share, missing analysts' average expectations by 7 cents, according to Thomson Reuters I/B/E/S.
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Virtu currently has 519 employees, down from around 1,200 when the company bought KCG, and makes markets in 36 countries in equities, options, fixed income, currencies and commodities.
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"After a thorough evaluation, KCG's Board of Directors concluded that the proposal from Virtu provides compelling value for KCG's stockholders," KCG Chairman Charles Haldeman said in a statement.
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"Markets are driven by their perception of stability," said Viola, founder of Virtu Financial, a high-speed trading giant, and Trump's onetime nominee for secretary of the Army.
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Microwaves carry data more quickly than fiber optic cables, allowing firms that use high-frequency trading strategies, including Virtu, to complete algorithm-driven trades at close to light speed.
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JPMorgan is serving as the head advisor to Virtu for the deal, and has made a commitment to provide up to $1.65 billion of debt financing for the transaction.
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The institutions that fund and control MEMX are some of the incumbent exchanges' biggest customers, including Bank of America Corp, UBS, Virtu Financial, Morgan Stanley, Fidelity and Citadel Securities.
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Mr. Viola is an owner of the Florida Panthers hockey club and a majority shareholder in Virtu Financial and Eastern Air Lines, among a number of other business interests.
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Viola is a West Point graduate who founded the highly profitable high-frequency trading firm Virtu Financial Inc in 2008, Trump's transition team said in a statement on Monday.
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Shay, who had worked for Virtu Financial from 2012 to 2016, helped expand Nasdaq's commodities offering in Europe and enhance products on the exchange's U.S. Treasury platform, the memo said.
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But MEMX's founding members Citadel Securities and Virtu Financial are two of the largest automated market-makers, a clue the new exchange will not likely attempt to slow the practice.
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Besides the employment report, there are also earnings from Duke Energy, Humana, NRG Energy, PG&E, Madison Square Garden, FirstEnergy, NGL Energy Partners, Shutterstock and Virtu Financial before the bell.
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The sales have created an odd situation: Computerized trading firms like Virtu now dominate one of the last places where humans still play a crucial role in the stock markets.
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There has not been a formal announcement of who the market makers will be, but some of the known large players — such as DRW and Virtu Financial — will be participating.
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The institutions that fund and control MEMX are some of the biggest customers of major U.S. exchanges, including Bank of America Corp, Virtu Financial, Morgan Stanley , Fidelity and Citadel Securities.
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You can see the miserable state of the trading business in the results from companies like Virtu, one of the world's largest market makers in stocks, bonds, commodities and currencies.
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He added that Virtu provides technology and market access to a handful of financial institutions in the equities markets and that it is in talks with several more potential partners.
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Virtu is one of the world's largest market makers, providing a nearly continuous stream of buy and sell quotes for investors to trade against and profiting from the bid-ask spread.
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Other big banks and brokerage firms previously sold their seats on the floor of the exchange to high-speed firms like Virtu Financial Capital Markets and Knight Capital Group (now KCG).
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"It was about time to see a little bit of a correction in stocks," Matthew Cheslock, trader at Virtu Financial, said from the New York Stock Exchange floor earlier this week.
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Citadel Securities, Virtu Financial, Jane Street, and GTS ranked in the top five in ADR trading for notional amount and number of trades in July on OTC Markets' alternative trading system.
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Virtu Financial founder Vincent Viola said Friday that the strength of the U.S. economy is a signal that now is a good time to buy stocks despite the recent sell-off.
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Viola, an Army veteran and billionaire owner of the Florida Panthers, is the former chairman of the New York Mercantile Exchange and a co-founder of high-frequency trading firm Virtu Financial.
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The disagreement is part of an ongoing dispute over the cost of market data, with Virtu, one of the world's largest trading and market-making firms, one of the most vocal critics.
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Virtu said it had notified the authorities of the issue and that it would begin legal actions to defend itself from the attempt to infringe on its copyrights, trademarks and intellectual property.
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At the same time, human traders have been disrupted by electronic firms like Virtu and XTX, places that employ a few dozen coders to trade billions in stocks and currencies every day.
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New York-based Virtu has proposed to acquire all the outstanding shares of KCG's common stock for $18.50-$20.00 per share in cash, valuing the company at as much as $1.33 billion.
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Shares of securities trading firm KCG Holdings closed up more than 11 percent Thursday after it was announced the company is being acquired by New York-based Virtu Financial for approximately $1.4 billion.
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Virtu makes markets in 36 countries and 12,000 financial instruments, continuously quoting buy and sell prices for others to trade against, profiting off the bid-offer spread, using high-frequency trading (HFT) strategies.
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New York-based Virtu, Citadel Securities and Tower Research Capital along with new European player XTX Markets, London's GSA or Chicago-based Jump Trading, have become both rivals to and partners of banks.
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Shares of Virtu Financial rose more than 9 percent in morning trading on Thursday after it agreed to acquire a high-frequency trading rival, KCG Holdings, in a deal worth about $1.4 billion.
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Liquidity in the Canadian crude ETF that Auspice manages surged last October as Canadian crude's discount to U.S. oil futures ballooned, attracting big U.S. market makers like Virtu Financial and Jane Street, Pickering said.
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Doug Cifu, CEO of Virtu, one of several market makers in the Cboe bitcoin futures, said he is posting bids and offers for the futures based on the spot price on the Gemini exchange.
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Mr. Viola, a retired Army major and graduate of West Point, is the owner of the National Hockey League's Florida Panthers, former chairman of the New York Mercantile Exchange and founder of Virtu Financial.
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Virtu Financial (Nasdaq: VIRT) today announced an agreement to acquire rival high-speed trading firm KCG Holdings (NYSE: KCG) for approximately $1.4 billion in cash, or $20 per share (12.74% premium over yesterday's closing price).
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It's already working with apartment owners like Marian Group, Virtu Investments and Peak Residential, so you can expect that footprint to greatly expand to be available in more cities and buildings over the coming months.
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Virtu Financial Inc, another TETF holding, on Thursday said it would buy KCG Holdings Inc in a $1.4 billion deal that brings together two major players in U.S. electronic ETF trading, sending both stocks soaring.
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President Wu Virtu, a Maoist Ronald Reagan figure who rules over the merged continent of Amerasiopia, has directed him to present a new version of "The Prince," his 500-year-old treatise on political power.
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Instead, it is sent to so-called wholesale brokerages, such as Citadel Securities and Virtu Financial, which often pay for the right to execute the orders and try to profit off of the bid-ask spread.
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Be smart: It's notable that MEMX is backed by Citadel Securities and Virtu Financial — the country's biggest stock traders, which each facilitate 20% of U.S. equity volume, per WSJ — in addition to the big financial firms.
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"KCG fits perfectly with Virtu's strategic priorities to apply our market making and technological expertise to customer wholesale order flow and expand Virtu's growing agency execution business," Virtu Chief Executive Douglas Cifu said in a statement.
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The founding members include some of the largest banks (Bank of America Merrill Lynch, Morgan Stanley, and UBS), market makers (Citadel Securities and Virtu Financial) and retail brokers (Charles Schwab, E-trade, TD Ameritrade, and Fidelity).
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"In a sense, it reminded me back of the dot-com era, when you had companies going public that had no known path to profitability," said Greifeld, chairman of high-speed computerized trading firm, Virtu Financial.
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"In a sense, it reminded me back of the dot-com era, when you had companies going public that had no known path to profitability," said Greifeld, chairman of high-speed computerized trading firm Virtu Financial. Disclaimer
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An expansion of the partnership to other asset classes at some point in the future, as well as similar deals with other financial firms, are definite possibilities, Virtu Chief Executive Officer Douglas Cifu said in an interview.
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Personal income Earnings: Time Warner, Tesla Motors, Allstate, Agrium, Continental Resources, Virtu Financial, Clorox, Transocean, Marathon Oil, Kate Spade, Iamgold, Occidental Petroleum, Herbalife, Tesoro, Delphi Automotive, MetLife, 3D Systems, Sunoco Logistics, Noble Energy, Humana, HollyFrontier 8:15 a.m.
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If its plan goes forward, it could effectively give NYSE a monopoly over access to the fastest data, allowing it to charge exorbitant fees for access to its antenna, while shutting out potentially lower-cost wireless providers, Virtu said.
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Just as NYSE would never have been allowed to sell space on its exchange floor at a premium price that advantaged one member over others, neither should it be allowed to do the same with rooftop access, Virtu argued.
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The Washington Post reports that Viola—the founder and executive chairman of e-trader Virtu Financial and owner of the Florida Panthers—graduated from West Point in 1977 and served as an infantry officer in the 101st Airborne Division.
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The companies will create the new venture called Members Exchange (or MEMX) and will be funded and controlled by nine institutions, including Bank of America Merrill Lynch, Charles Schwab, E*TRADE Financial Corp, TD Ameritrade, UBS and Virtu Financial.
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With a staff of 150 people, Virtu makes markets in 36 countries and 12,000 financial instruments, continuously quoting buy and sell prices for others to trade against, profiting off the bid-offer spread, using high-frequency trading (HFT) strategies.
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The company, which also trades for its own account and on behalf of institutional investors, said it would ultimately cut out $340 million in costs, or 44 percent of the combined expense base of Virtu and KCG, prior to the merger.
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EtherIndex will refile the application "the moment we see the appropriate developments in the marketplace," said Quintilian, who is also a partner at Axiom Markets LLC, a futures trading firm he co-founded in 2005 with Virtu Financial founder Vincent Viola.
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The three join some of the largest banks (Bank of America, Morgan Stanley, and UBS), market-makers (Citadel Securities and Virtu Financial) and retail brokers (Charles Schwab, E-Trade, TD Ameritrade, and Fidelity) in the industry in backing the hopeful exchange.
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WAPNER: INTERESTING WEVE HAD DOUG CIFU WHO RUNS VIRTU AND VINNIE VIOLA WHO FOUNDED IT ON OUR AIR THE PAST WEEK SO A LOT OF PEOPLE ARE TALKING ABOUT THE INCREASED VOLATILITY AND WHAT IT COULD MEAN FOR THAT STOCK.
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COPENHAGEN (Reuters) - Former Tour de France winner Bjarne Riis and Lars Seier Christensen, co-owner of online forex brokerage Saxo Bank, have become part of the group of owners of the Danish third-tier cycling team Team Virtu Pro-Veloconcept.
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"I think there&aposs a really positive aspect to Instagram, but it&aposs also a little annoying to see people take pictures of their food for 20 minutes before they even touch it," says Gio Osso of Virtu in Scottsdale, Ariz.
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"Virtually nobody's heard of them, but they've disrupted the traditional foreign exchange market, ruled by J.P. Morgan, Citigroup and Deutsche Bank, similar to the way Virtu and Citadel have disrupted global equity markets, " said Larry Tabb, founder of research firm Tabb Group.
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Kellner is the first publicly announced employee of the would-be exchange, known as MEMX, which is backed by Bank of America Merrill Lynch, Charles Schwab Corp, Citadel Securities, E*TRADE Financial Corp, Fidelity Investments, Morgan Stanley, TD Ameritrade, UBS, and Virtu Financial.
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Greifeld, along with Silver Lake co-founder Glenn Hutchins, joined forces with Singapore's GIC and Temasek and Canada's Public Sector Pension Investment Board to buy a combined $750 million of new Virtu stock as part of the firm's deal to buy KCG.
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"When we started down this path a couple of years ago just questioning the need for market data increases, I certainly felt a little bit like Don Quixote, you know, tilting into the windmill," said Doug Cifu, chief executive officer of Virtu Financial.
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NEW YORK, Aug 3 (Reuters) - Automated trading firm Virtu Financial said on Wednesday it had reached a deal to provide JPMorgan Chase and Co with electronic fixed income trading in the dealer-to-dealer market for U.S. Treasuries for at least three years.
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Episode 3, "Virtu e Fortuna," added to the Bernard mystery by putting the robot directly in the path of Dolores, Teddy (James Marsden), and even Peter Abernathy (Louis Herthum), who is the "package" Charlotte (Tessa Thompson) is desperate to get out of the park.
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Interactive Brokers: up 22 percent TD Ameritrade (Scottrade): up 19 percent ETrade: up 18 percent Schwab: up 2 percent Source: CNBC Another beneficiary of market chaos: Market maker and high-frequency trading shop Virtu Financial, whose shares are up nearly 100 percent this year.
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The firms are able to offer the free trading by pushing their customers' orders to so-called wholesale market makers, such as Citadel Securities and Virtu Financial, which aim to make a profit on the spread between the bid and the offer on the shares.
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Many in the industry also expect regulators to curb direct payments by wholesale brokers, like Citadel Securities and Virtu, to retail brokers, like Schwab and TD Ameritrade, for the majority of the stock orders "mom and pop" investors make on their platforms, Sprecher said.
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If you doubt how much trouble the trading community is in, take a look at stocks associated with trading activity, like Virtu (down 44 percent year to date), BGC Partners (down 14 percent), or KCG Holdings (down 20 percent in the last two weeks after earnings).
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Virtu and VFH's ratings could be negatively impacted by an increase in the firm's risk profile post-acquisition, resulting from the continuation of proprietary trading, and an inability to execute on the projected capital synergies allowing for debt principal reduction in the months following the transaction close.
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Virtu earned $46.6 million, or 24 cents a diluted share, in the quarter ended June 3403, versus $4.4 million, or 1 cent a diluted share, a year earlier, when market volatility was at historic lows and the company had just completed its $1.4 billion acquisition of rival KCG Group.
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A move by the New York Stock Exchange to install microwave equipment on the roof of its data center to speed up data transmissions is "anti-competitive" and could result in higher trading costs, trading firm Virtu Financial said in a letter to the U.S. Securities and Exchange Commission.
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North Island, a firm headed by former Nasdaq CEO Robert Greifeld and Glenn Hutchins, cofounder of private equity giant Silver Lake, is investing $615 million in Virtu in partnership with GIC, Singapore's sovereign wealth fund, and Public Sector Pension Investment Board (PSP Investments), one of Canada's largest pension investment managers.
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Virtu opposed the NYSE's plan because it would allow only one wireless provider - chosen by the exchange - to locate an antenna on the rooftop of the exchange operator's Mahwah, New Jersey, data center, due to "resource and engineering constraints," according to the letter, which was posted to the SEC's website on July 25.
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Earnings: AIG, Electronic Arts, Newfield Exploration, Solar Capital, Etsy, Fitbit, Steve Madden, Tableau Software, La Quinta July vehicle sales Earnings: Time Warner, Tesla Motors, Allstate, Agrium, Continental Resources, Virtu Financial, Clorox, Transocean, Marathon Oil, Kate Spade, Iamgold, Occidental Petroleum, Herbalife, Tesoro, Delphi Automotive, MetLife, 3D Systems, Sunoco Logistics, Noble Energy, Humana, HollyFrontier 8:15 a.m.
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Doug Cifu, CEO of Virtu, one of the world's largest market makers, said, "While Kolanovic has some interesting and intuitive ideas around macrotrends, his understanding of micro market structure is limited" And those who engage in the type of trading strategies that Kolanovic singled out as a factor in the trading don't like the swipe either.
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I ALSO BOUGHT SOME VIRTU BECAUSE THEY DO HFT TRADING AND THEY MAKE MONEY OFF OF VOLATILITY, AND WENT BACK AND READ THEIR TRANSCRIPTS FROM THEIR CONFERENCE CALLS AND SO, IF THE VOLATILITY CONTINUES, I'VE GOT ENOUGH OF A POSITION THAT I CAN MAKE SOME MONEY THERE, AND IF IT DOESN'T, THEN I'LL MAKE MONEY OFF THE VIX PUTS.
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