Virtu Financial Launches New Matching Rules and Segmentation Logic for US POSIT ATS

Virtu Financial, Inc., a leading provider of global, multi-asset, financial services and products, announced that Virtu​'s US POSIT alternative trading system (ATS) will make changes to its manner of operation, including new matching rules and the introduction of subscriber segmentation. 

The changes to POSIT ATS include:

• Price/size/time order priority

• Price improvement is given to the liquidity provider

• Subscribers will be segmented into three tiers: Neutral, Move Towards and Move Away using a markout methodology that employs long time horizons

• All subscribers will have the option to opt out of interacting with either the Move Towards or Move Away segments on an individual order basis

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Additionally, POSIT ATS will undergo a technological rebuild through the rest of the year in order to enhance overall system performance for POSIT ATS subscribers.

EVP & Global Head of Virtu Execution Services, Steve Cavoli, said: "These enhancements represent the latest in our continued commitment to our clients. As always, we listen to our clients and apply simple, straight forward solutions."