Virtu provides product suite including offerings in execution, liquidity sourcing, analytics, broker-neutral, multi-dealer platforms in workflow technology and two-sided quotations and trades in equities, commodities, currencies, options, fixed income, and other securities on over 230 exchanges, markets, and dark pools.
[9] Virtu has offices in New York City (headquarters), Austin, Los Angeles, Boston, Chicago, London, Sydney, Dublin, Hong Kong, and Singapore.
Virtu acquired a market-making unit that handles NYSE Amex stocks from Cohen Capital Group LLC in December 2011.
The purchase made Virtu the largest overseer of trading in shares listed on Amex, known as the American Stock Exchange, before NYSE Euronext bought it for $260 million in 2008.
[10] In April 2017, Virtu agreed to pay US$1.4 billion in cash to purchase rival market-making firm KCG Holdings.
At the time, prospective investors advised to wait and "let the storm pass", a reference to recent scrutiny concerning HFT practices.
[26] Gregory Laughlin, astrophysicist and department chairman at the University of California, Santa Cruz, researched Virtu's trading activity.
[27] In his research, Laughlin showed that "the number of its trades that break even are about the same as its losses", indicating Virtu assumes little market risk.
[28] In July 2014, the Securities and Exchange Commission (SEC) sought information on ten HFT firms with broker-dealer licenses, including Virtu Financial, as part of an ongoing investigation into predatory trading strategies.
[30] John McCrank of Reuters noted that scrutiny around high-frequency trading intensified after the release of Michael Lewis's best-selling book Flash Boys: A Wall Street Revolt in March 2014.