Virtu Financial and MarketAxess Announce Global ETF and Fixed Income Partnership
April 04 2019 - 08:30AM
Virtu Financial, Inc. (NASDAQ:VIRT) and MarketAxess Holdings, Inc.
(NASDAQ: MKTX), two global leaders in electronic trading, today
announced a partnership to provide institutions with enhanced
trading tools and access to global exchange-traded funds (ETFs) and
fixed income securities. The effort, which includes the
distribution of Virtu’s streaming eNAV ETF fair value offering, is
expected to launch in the third quarter.
The partnership will provide:
- Global, multi-asset and multi-currency coverage to MarketAxess
and Virtu RFQ-hub clients
- Disclosed and anonymous ETF trading via a request-for-quote
protocol
- Virtu’s real-time eNAV, a streaming fair value tool for
ETFs
- Superior, real-time trade analytics supported by the
MarketAxess award-winning Composite+ (CP+) algorithmic pricing tool
and Virtu’s comprehensive suite of TCA tools
Virtu Financial is a leading financial technology firm that
delivers liquidity to the global markets and innovative,
transparent trading solutions to buy-side and sell-side
institutions. Virtu recently acquired ITG to create a premier
agency execution and broker neutral workflow and analytics
franchise. Virtu’s RFQ-hub is a market leader in equity
derivatives and structured products and is active in ETFs.
MarketAxess is the operator of a leading electronic trading
platform for fixed-income securities, and the provider of market
data and post-trade services for the global fixed-income
markets.
“We are pleased to partner with Virtu to deliver institutional
investors a new, cost-efficient, secure solution for achieving
quality execution in ETFs,” MarketAxess President Chris Concannon
said. “ETFs have grown quickly to become an integral feature
of the liquidity landscape in global credit markets. Our
entry into ETF trading with Virtu is a natural extension of our
success with Open Trading™, now established as the preferred
all-to-all trading solution in the credit markets.”
“This exciting and complementary partnership combines
MarketAxess’s leading fixed-income platform with Virtu’s global
multi-asset class and ETF expertise,” said Doug Cifu, Virtu
Financial Chief Executive Officer. “Clients of MarketAxess
will have access to Virtu’s leading ETF platform RFQ-hub and will
benefit from the seamless integration of RFQ-hub’s ETF trading and
analytics services. In addition, RFQ-hub will have
access to MarketAxess’ leading fixed income platform.”
The arrangement is subject to the parties entering into a
binding definitive agreement.
About MarketAxessMarketAxess operates a
leading, institutional electronic trading platform delivering
expanded liquidity opportunities, improved execution quality and
significant cost savings across global fixed-income markets.
More than 1,500 firms - comprising the world’s leading asset
managers and institutional broker-dealers - traded a record $1.7
trillion of U.S. investment-grade bonds, U.S. high yield bonds,
emerging market debt, Eurobonds and other fixed income securities
through MarketAxess’ patented trading technology in
2018. MarketAxess’ award-winning Open Trading™
marketplace is regarded as the preferred all-to-all trading
solution in the global credit markets, creating a unique liquidity
pool for the broad range of credit market participants.
Drawing on its deep data and analytical resources, MarketAxess
enables automated trading solutions and, through its Trax®
division, provides a range of pre- and post-trade services and
products.
MarketAxess is headquartered in New York and has offices in
London, Amsterdam, Boston, Chicago, Los Angeles, Miami, Salt Lake
City, San Francisco, São Paulo, Hong Kong and Singapore. For more
information, please visit www.marketaxess.com.
About Virtu Financial, Inc.Virtu is a leading
financial firm that leverages cutting edge technology to deliver
liquidity to the global markets and innovative, transparent trading
solutions to our clients. As a market maker, Virtu provides deep
liquidity in over 25,000 securities, at over 235 venues, in 36
countries worldwide that helps to create more efficient markets. We
leverage our market structure expertise and scaled, multi-asset
technology infrastructure to provide a complete suite of client
solutions, including transparent agency execution and
broker-neutral offerings.
About RFQ-hubVirtu’s electronic bilateral
request-for-quote (RFQ) platform for listed and OTC securities
centralizes best price discovery. Detailed metrics provide insight
and audit reporting for regulatory and compliance obligations.
About eNAVVirtu’s Fair Value models, integrated
for ETF trading and Trading Analytics via RFQ-hub and Triton
EMS.
Virtu Financial is headquartered in New York and has offices in
Toronto, Dublin, London, Madrid, Paris, Austin, Boston, Chicago,
Los Angeles, San Francisco, Hong Kong, Melbourne, Singapore, and
Sydney. For more information, please visit www.virtu.com or contact
info@virtu.com.
Cautionary Note Regarding Forward-Looking
Statements The foregoing information and certain oral
statements made from time to time by representatives of Virtu
contain certain forward-looking statements that reflect Virtu’s
current views with respect to certain current and future events and
financial performance. These forward-looking statements are and
will be, as the case may be, subject to many risks, uncertainties
and factors relating to the Virtu’s operations and business
environment which may cause the Virtu’s actual results to be
materially different from any future results, expressed or implied,
in these forward-looking statements. Any forward-looking statements
included here are based upon information available to the company
on the date of this filing. The Virtu does not undertake to
publicly update or revise its forward-looking statements even if
experience or future changes make it clear that any statements
expressed or implied therein will not be realized. Additional
information on risk factors that could potentially affect the
Virtu’s financial results may be found in the Virtu’s filings with
the Securities and Exchange Commission.
Media Relations Contacts:
Mary SedaratMarketAxess Holdings
Inc.+1-212-813-6226msedarat@marketaxess.com
Andrew SmithVirtu Financial, Inc.(212)
418-0195Media@virtu.com
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