Trading Giant Virtu Financial Plans To Be A Market Maker


Virtu Financial is a high-frequency trading firm and it certainly has big plans. During a question-and-answer session after the company announced its first-quarter earnings call, the firm had some strong words.

The session began when JPMorgan analyst inquired whether the firm had launched a “cyber currency trading,” platform. In response, Virtu CEO Douglas Cirfu stated that the firm is a market maker concerning bitcoin futures, although it does not currently trade bitcoin. Specifically, he stated:

“We are a market maker in the CBOE and CME [bitcoin] futures markets. We do not currently make markets in any of the cyber cash markets, primarily because of our concern around risk management. In other words, our [modus operandi] has always been to trade in transparent and regulated exchanges with centralized clearing or clearing through a prime broker. In ‘cash bitcoin’ and other cyber currencies that’s not currently available, so we have concerns around counterparty risk.” He added that the platform has “dipped a toe in but it’s a very, very small toe.”

It is also important to note that Cifu mentioned that Virtu is agnostic concerning whether the asset is “appropriate” and that the firm will be more active in the spot cryptocurrency market as regulation increases.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide