Photographer: Michael Nagle/Bloomberg

The New Wall Street: Even Big Banks Want Help Navigating Markets

  • Algo-driven firms like Virtu, Citadel have transformed trading
  • Bank retreat after financial crisis created an opportunity

After JPMorgan Chase & Co.’s shares plunged 21 percent in the opening minutes of trading on Aug. 24 last year, the world’s largest investment bank sought out an unlikely ally, Virtu Financial Inc., to help it understand what happened.

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