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Virtu Touting Near-Perfect Record of Profits Backfired, CEO Says

Virtu Financial Inc.’s decision to trumpet an almost unbroken string of profitable trading days didn’t work out as planned, according to the high-frequency trader’s chief executive officer.

“I thought it would be a good thing to disclose to the world that the firm was profitable every day,” Doug Cifu said at a Sandler O’Neill & Partners LP conference. “But boy, did that backfire in my face, so I take responsibility for that.”