Virtu Financial and MarketAxess Announced ETF Partnership

The new suite of services is expected to go live in Q3 of this year

High-frequency trading firm Virtu Financial announced a partnership with financial technology company MarketAxess to provide companies with trading tools and access to exchange-traded funds (ETFs) and fixed income securities.

The two firms expect the new set of products to launch in the third quarter of this year.

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“We are pleased to partner with Virtu to deliver institutional investors a new, cost-efficient, secure solution for achieving quality execution in ETFs,” MarketAxess President Chris Concannon said.

“ETFs have grown quickly to become an integral feature of the liquidity landscape in global credit markets. Our entry into ETF trading with Virtu is a natural extension of our success…in the credit markets.”

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Currencies coverage

The new deal will see the clients of the two firms receive global coverage for currency and securities markets.

Investors will also be able to dabble – anonymously – in the ETF market via a request-for-quote protocol.

Anyone wishing to trade in ETFs will also have access to eNAV. Part of Virtu’s analytics suite, eNAV acts as a streaming fair value tool for ETFs.

“This exciting and complementary partnership combines MarketAxess’s leading fixed-income platform with Virtu’s global multi-asset class and ETF expertise,” said Doug Cifu, Virtu Financial chief executive officer.

“Clients of MarketAxess will have access to Virtu’s leading ETF platform RFQ-hub and will benefit from the seamless integration of RFQ-hub’s ETF trading and analytics services. In addition, RFQ-hub will have access to MarketAxess’ leading fixed income platform.”

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