Virtu Financial Forms Consortium for RFQ-Hub

Virtu Financial Forms Consortium for RFQ-Hub

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.

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

Related articles

  1. From The Markets

    FIA Launches ETD Tracker

    Online tool displays data on the trading of exchange-traded derivatives.

  2. A rising tide of electronic execution is improving pricing and liquidity in interest rate swaps.

  3. The first phase of the rewrite was originally due to be implemented in May 2022.

  4. The first amendments to the CFTC's swap data reporting rules come into effect on December 5.

  5. CEDX is planning to expand its range of products in 2023, subject to regulatory approvals.