Virtu Financial, Inc., a global market maker, broker and leading provider of global financial services technology, announced the formation of RFQ-hub Holdings LLC to support the growth of RFQ-hub, Virtu’s bilateral multi-asset and multi-dealer request for quote platform.

Excited to be involved in the next stage of growth for RFQ-hub. Together with our co-founding members, we're creating a global platform for #institutionalinvestors to gain improved access across #ETFs and #derivatives.https://t.co/l6yPpC442I

— MarketAxess (@MarketAxess) May 19, 2022

In addition to Virtu, founding consortium members include liquidity providers Citadel Securities, Flow Traders and Jane Street Capital, asset manager BlackRock and leading electronic trading platform MarketAxess. MarketAxess will be taking a significant minority stake in the platform.

RFQ-hub brings asset managers and liquidity providers together to help electronically deliver aggregated and competitive liquidity, streamline workflow and improve pricing with a focus on equity and fixed income listed and OTC derivatives, structured products and exchange-traded funds (ETFs). The goal of the newly formed consortium is to support the next stage of growth for RFQ-hub by fostering the creation of a global institutional platform designed specifically for these instruments.

“The founding members of this consortium represent a diverse array of market participants organizing for the common goal of improving access and execution of ETFs and derivatives for institutional investors,” said Joseph Molluso, Co-President and Co-Chief Operating Officer of Virtu Financial. “Together, we believe we can expand RFQ-hub’s multi-asset offering to clients across the globe.”

Source: Virtu