About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Virtu Targets MiFID II SI Liquidity via Partnerships with Vela, QuantHouse, Exegy

Subscribe to our newsletter

Electronic market-maker Virtu Financial has staked its claim as a Systematic Internaliser under MiFID II, announcing several distribution partnerships for its SI-related data feeds as the regulation came into effect last week. Virtu – whose SI aspirations will be led by its Virtu Financial Ireland operation – plans to provide bilateral liquidity in European cash equities for sell-side firms operating in Europe under MiFID II’s SI regime.

To promote that ambition, Virtu is making its SI equities, ETF and indications of interest (IOI) data feeds available through high-performance platforms Vela Trading Technologies, QuantHouse and Exegy. While early indications suggest a flight (of sorts) of volumes to SIs post-January 3, it’s not possible to gauge winner and losers in the SI battle for liquidity, since all SI trades are reported en mass under the SINT banner. As such, the market will have to wait until the publication of best execution reports later in the year to assess the impact of Virtu’s – and others’ – tech-led liquidity acquisition initiatives.

Virtu, one of the largest global electronic market making firms, has joined the growing list of electronic liquidity providers delivering market data through Vela’s new Systematic Internaliser (SI) Data Hub, part of Vela’s MiFID II solution suite.

According to says Christiaan Scholtes, head of EMEA markets at Virtu Financial, “Integrating Virtu’s disclosed liquidity streams into the Vela SI Data Hub delivers a seamless and cost-effective connectivity solution for clients to access Virtu’s competitive and transparent liquidity across Equity and ETF securities in a MiFID II compliant environment.”

Ollie Cadman, Vela’s head of business operations for EMEA, says the Virtu equity and ETF data will not only be available via the SI Data Hub, but will be available to users of the vendor’s SMDS direct feed handling platform as well.

In a separate development, clients will also be able to access Virtu’s disclosed Systematic Internaliser liquidity through QuantHouse’s QuantFeed and QuantLink meachanisms. Virtu Financial’s Scholtes describes the arrangement as “an important step allowing us to provide our firm quotes efficiently and transparently to a broader range of market participants.”

Finally, Virtu’s SI and IOI data feeds have been made available via Exegy Inc.’s low-latency market data platform, enabling transparent access to Virtu’s liquidity in European and US equities and ETFs. Says Scholtes: “This is a great example of Exegy’s strategic view on the importance of MiFID II’s transparent SI regime to Exegy’s world-class customer base.”

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: GenAI and LLM case studies for Surveillance, Screening and Scanning

As Generative AI (GenAI) and Large Language Models (LLMs) move from pilot to production, compliance, surveillance, and screening functions are seeing tangible results – and new risks. From trade surveillance to adverse media screening to policy and regulatory scanning, GenAI and LLMs promise to tackle complexity and volume at a scale never seen before. But...

BLOG

Re-Architecting Regulatory Reporting with REGnosys and Open Source

Regulatory reporting has long been defined by highly specialized jurisdictional knowledge, templates, spreadsheets, and a significant part of the compliance budget. Regulators publish new requirements, firms interpret them independently, technology teams build extraction and transformation layers, and operations teams reconcile outputs before pushing formatted datasets to supervisory authorities. RegTech Insight sat down with regulatory reporting...

EVENT

Eagle Alpha Alternative Data Conference, Fall, New York, hosted by A-Team Group

Now in its 8th year, the Eagle Alpha Alternative Data Conference managed by A-Team Group, is the premier content forum and networking event for investment firms and hedge funds.

GUIDE

Impact of Derivatives on Reference Data Management

They may be complex and burdened with a bad reputation at the moment, but derivatives are here to stay. Although Bank for International Settlements figures indicate that derivatives trading is down for the first time in 10 years, the asset class has been strongly defended by the banking and brokerage community over the last few...