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Virtu Is Letting Outsiders Use Its High-Powered Systems

  • Virtu's technology traded for T. Rowe Price as an experiment
  • Represents a departure from Virtu's market-making roots
Updated on

Virtu Financial Inc. will offer to trade on behalf of a handful of investors in the second quarter of this year, giving the asset managers access to the high-frequency firm’s powerful trading computers.

The company, one of the biggest market makers in the world, has already tested its service with T. Rowe Price Group Inc., according to Virtu Chief Executive Officer Doug Cifu. Virtu will not act as a counterparty for the transactions. Instead, it will seek to execute the trades on an agency basis.