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High-Speed Trader Virtu Finds New Home for its Algorithms

High-speed trading firm Virtu Financial Inc. has found a new venue for its algorithms: a U.K.-based futures exchange that seeks to alleviate the pain caused by increased trading costs for some of the most popular derivatives.

Virtu will join Global Markets Exchange Group International LLP’s new market when it launches in April, according to a joint statement today. The high-frequency trading firm will help the fledging platform by contributing bids and offers for futures that mimic interest-rate swaps.