Virtu Financial and 360T Unleash Integrated FX Trading Analytics and TCA Services

by Tareq Sikder
  • Clients of 360T can utilize Virtu’s trading analytics directly on the platform for analysis.
  • Virtu's analytics and TCA optimize FX trading for corporate treasurers and asset managers.
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360T, a global trading platform for Foreign Exchange, and Virtu Financial, Inc. (NASDAQ: VIRT), a provider of financial services and market analytics solutions, have announced a strategic partnership. The collaboration aims to offer clients integrated FX Trading Analytics and Transaction Cost Analysis (TCA) services.

Data-Driven Insights for FX Trading: Virtu Analytics on 360T

Under this partnership, 360T clients can utilize Virtu’s Trading Analytics to monitor and analyze their trading activity on the 360T platform. Virtu’s FX Trading Analytics and TCA provide data-driven insights to optimize FX trading for corporate treasurers and asset managers.

Kevin O’Connor, Global Head of Analytics at Virtu
Kevin O’Connor, Global Head of Analytics, Virtu, Source: LinkedIn

Commenting on the partnership, Kevin O’Connor, the Global Head of Analytics at Virtu, stated: “We are delighted to collaborate with 360T to extend our FX Analytics offering to their client base. The FX market is highly electronic and most market participants will benefit from using data analytics and TCA.”

Simon Bajec, Head of Market Data Product at 360T
Simon Bajec, Head of Market Data Product, 360T, Source: LinkedIn

“Virtu Analytics offers a full solution for both Institutional Investors and Corporate Treasurers looking to improve their FX execution. In this partnership, we were able to closely integrate our analytics offering with the 360T platform, providing clients a seamless FX TCA experience.”

Simon Bajec, the Head of Market Data Product at 360T, added: “At 360T we are strongly committed to enable transparent and efficient FX trading workflows for our clients. Having direct access to trading data and the ability to analyse that data dynamically is a key component of our client trading experience. By partnering with Virtu, we were able to offer our clients access to best-in-class analytics in a seamless way.”

Virtu Financial Q3 2023

Earlier, Finance Magnates reported that Virtu Financial reported financial results for the third quarter of 2023, with a net income of $117.6 million, marking an increase of 47% compared to the previous year. The firm's total revenue reached $630.2 million, indicating a rise of 12.3% from the third quarter of 2022.

However, trading income experienced a decline, dropping to $316.1 million from $397.4 million in the same period last year. Virtu executed a share buyback of $48.8 million, equivalent to 2.7 million shares, and declared a quarterly cash dividend of $0.24 per share. As of September 30, 2023, Virtu had $726.4 million in cash, cash equivalents, and restricted cash, with total long-term debt outstanding of $1,805.4 million.

The financial performance in the second quarter showed a decline in revenue and net trading income, with total revenue decreasing 17% compared to the previous quarter. Net trading income for Q2 was $306.2 million, reflecting a decline of 26% from the previous quarter and a decrease of 23% year-over-year.

360T, a global trading platform for Foreign Exchange, and Virtu Financial, Inc. (NASDAQ: VIRT), a provider of financial services and market analytics solutions, have announced a strategic partnership. The collaboration aims to offer clients integrated FX Trading Analytics and Transaction Cost Analysis (TCA) services.

Data-Driven Insights for FX Trading: Virtu Analytics on 360T

Under this partnership, 360T clients can utilize Virtu’s Trading Analytics to monitor and analyze their trading activity on the 360T platform. Virtu’s FX Trading Analytics and TCA provide data-driven insights to optimize FX trading for corporate treasurers and asset managers.

Kevin O’Connor, Global Head of Analytics at Virtu
Kevin O’Connor, Global Head of Analytics, Virtu, Source: LinkedIn

Commenting on the partnership, Kevin O’Connor, the Global Head of Analytics at Virtu, stated: “We are delighted to collaborate with 360T to extend our FX Analytics offering to their client base. The FX market is highly electronic and most market participants will benefit from using data analytics and TCA.”

Simon Bajec, Head of Market Data Product at 360T
Simon Bajec, Head of Market Data Product, 360T, Source: LinkedIn

“Virtu Analytics offers a full solution for both Institutional Investors and Corporate Treasurers looking to improve their FX execution. In this partnership, we were able to closely integrate our analytics offering with the 360T platform, providing clients a seamless FX TCA experience.”

Simon Bajec, the Head of Market Data Product at 360T, added: “At 360T we are strongly committed to enable transparent and efficient FX trading workflows for our clients. Having direct access to trading data and the ability to analyse that data dynamically is a key component of our client trading experience. By partnering with Virtu, we were able to offer our clients access to best-in-class analytics in a seamless way.”

Virtu Financial Q3 2023

Earlier, Finance Magnates reported that Virtu Financial reported financial results for the third quarter of 2023, with a net income of $117.6 million, marking an increase of 47% compared to the previous year. The firm's total revenue reached $630.2 million, indicating a rise of 12.3% from the third quarter of 2022.

However, trading income experienced a decline, dropping to $316.1 million from $397.4 million in the same period last year. Virtu executed a share buyback of $48.8 million, equivalent to 2.7 million shares, and declared a quarterly cash dividend of $0.24 per share. As of September 30, 2023, Virtu had $726.4 million in cash, cash equivalents, and restricted cash, with total long-term debt outstanding of $1,805.4 million.

The financial performance in the second quarter showed a decline in revenue and net trading income, with total revenue decreasing 17% compared to the previous quarter. Net trading income for Q2 was $306.2 million, reflecting a decline of 26% from the previous quarter and a decrease of 23% year-over-year.

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