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Virtu Financial (VIRT)

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Last Post: 8/10/2016 10:28:02 PM - Followers: 3 - Board type: Free - Posts Today: 0
VIRTU FINANCIAL--High Frequency Trading Firm about to go Public (IPO)
The high-frequency trading firm that’s about to go public only had one day of trading losses in five years

By Mark DeCambre@mdecambreMarch 11, 2014

New York based high-frequency trading firm Virtu Financial is slated to go public, having filed the required regulatory disclosures today. The firm, which was co-founded 12 years ago by chairman Vincent Viola—who recently bought the National Hockey League’s Florida Panthers—reported profits of $184 million in 2013, 108% higher than the prior year.

Virtu is just one of a number of so-called electronic market makers which have devoured the business of matching investor buy-and-sell orders and collecting a profit based on the discrepancy between the two. Humans—such as the New York Stock Exchange’s specialists—once had the job. But in recent years, high-frequency trading such as Virtu have gobbled up the business. These companies are known for using super-charged computers and sophisticated algorithms to quickly take advantage of small price changes.

While markets have been growing increasingly more electronic for decades, electronic-trading emerged as a potential risk to market stability following the May 6, 2010 “flash crash,” when a breakdown in computerized trading systems sent US stocks down 10% in moments. The episode—along with a number of other electronic trading glitches, such as Facebook’s botched 2012 IPO—have repeatedly been blamed for undermining investor confidence in US markets.

According to the Financial Times, a successful IPO would make Virtu, essentially, the first electronic trading firm to go public. (There are publicly traded firms such as Nasdaq OMX have large electronic trading operations.) And while The Wall Street Journal reported that Virtu could go public as early as next month, a scott-free offering is by no means guaranteed. (When a computerized stock exchange by the name of BATS tried to go public on its own exchange in 2012, hilarity ensued.)

At any rate, in its SEC filing Virtu took pains to stress the many levels of risk management that will enable it to avoid issues that have plagued electronic traders such as Knight Capital, whose haywire trading algorithm nearly sent the company into bankruptcy back in 2012. (Knight ultimately merged with another electronic outfit.) Virtu even pointed out that the company had recorded only a single day of trading losses in the 1,238 trading days that comprise the period between Jan. 1, 2009 and and Dec. 31, 2013, attributing that track record to its “real-time risk management strategy and technology.”

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VIRT News: Virtu Announces Opportunistic Refinancing 10/24/2016 09:00:19 AM
VIRT News: Virtu Financial to Host Conference Call Announcing 2016 Third Quarter Results on Friday, November 4, 2016 10/06/2016 11:00:00 AM
VIRT News: Current Report Filing (8-k) 09/27/2016 04:24:25 PM
VIRT News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 09/22/2016 06:02:06 AM
VIRT News: Notice of Effectiveness (effect) 09/19/2016 06:02:25 AM
#33   If anyone else follows VIRT- TypicalSeminole 08/10/16 10:28:02 PM
#32   Dividend upcoming- TypicalSeminole 08/10/16 10:18:08 PM
#31   Back on watch since it's under $18 now T695 06/18/16 11:25:05 PM
#30   Winner coupleofsnipes 03/17/16 01:34:11 AM
#29   What`s going on here the way this stock scrumpy6 08/20/15 09:44:18 AM
#28   Earnings out Aug 5th, not sure where we scrumpy6 07/24/15 09:59:05 PM
#27   Virtu Financial Inc., one of the world’s biggest Doubledown22 05/13/15 11:42:54 AM
#26   Analyst recommendations on $VIRT... Doubledown22 05/13/15 11:38:05 AM
#25   Here's the complete Seeking Alpha article on $VIRT Doubledown22 05/13/15 10:29:27 AM
#24   Great article. Thanks for sharing with the board. Doubledown22 05/13/15 10:22:25 AM
#23   Long term...long bet. Congo Mining 05/13/15 12:01:21 AM
#22   you and I are on the same mindset, scrumpy6 05/08/15 11:27:12 PM
#21   I bought shares now we are bound Doubledown22 05/08/15 11:35:21 AM
#20   Guessing this will go down to around $18 T695 04/27/15 04:10:30 PM
#19   VRT good entry point T695 04/26/15 06:25:15 PM
#18   It's time for VRT to push their own T695 04/25/15 03:49:21 PM
#17   How to beat HTF algos! bustya666 04/24/15 01:35:17 PM
#16   UK man explains how to take advantage of bustya666 04/24/15 01:33:25 PM
#15   But maybe it will catch another gear after Doubledown22 04/21/15 04:30:39 PM
#14   $VIRT starting to settle and consolidate some after Doubledown22 04/21/15 04:28:54 PM
#13   VIRT looking ready to take off T695 04/17/15 10:47:01 AM
#12   Agreed, this company should explode like no other T695 04/17/15 06:21:49 AM
#11   A ton of SEC Filings, mostly Form 4s, Doubledown22 04/17/15 01:00:46 AM
#10   Up over 16% today on 15.7 Million shares traded!! Doubledown22 04/17/15 12:44:36 AM
#9   Now we just need a shout out from Cramer T695 04/16/15 06:00:48 PM
#8   Being mentioned on CNBC fast money got us T695 04/16/15 05:43:35 PM
#7   This should have a nice run T695 04/16/15 12:00:05 PM
#6   THE IPO COULD HAPPEN ANY TIME NOW!! tyhub 04/16/15 10:54:21 AM
#5   Virtu Financial's Stock Market Revolution Spells Big Payoff Doubledown22 04/14/15 09:44:17 PM
#4   High-Frequency Trading Firm Virtu Financial Is Going Public Doubledown22 04/14/15 09:30:54 PM
#3   DEAD IN THE WATER INTHEGR33N 04/23/14 08:01:01 AM
#2   Whens the ipo? troubadour84 03/13/14 06:58:12 PM
#1   Trading firm Virtu Financial plans to raise up Doubledown22 03/13/14 04:59:25 PM