Wall Street trading giant Virtu cut staff by half and laid in to a $1.4 billion acquisition — now it

[sle]

It was pretty clear from the start that Virtu was gonna get rid of all non-UHF types of business that KCG had. Plus, KCG was a multi-manager setup while Virtu is a one-team-one-scream. Some of those people were kept on for a while to ensure smooth transition, some left on their own.

 

[traider]

It was pretty clear from the start that Virtu was gonna get rid of all non-UHF types of business that KCG had. Plus, KCG was a multi-manager setup while Virtu is a one-team-one-scream. Some of those people were kept on for a while to ensure smooth transition, some left on their own.

What's wrong with diversifying the business product line. Regulations could shut down Virtu in the blink of an eye.

 

[traider]

Impressive, but two different perspectives. Look at it this way, Virtu has always been a high-frequency proprietary trading operation (one that revenue growth has stalled, mind you). The KCG that was bought by Virtu, is essentially Dan Coleman's vision, he tried to get KCG to operate less as a prop-trading operation, and more as a platform provider, research / trading algo / quant analytics, etc. Of cos once Virtu bought KCG, all of these other "platforms" will be shutdown other than low-latency trading platform, of cos it makes sense.

I know plenty of horror stories about Knight's technology platform, so it is not surprising that it is pretty garbage. But I am surprised that KCG has not just tossed the bulk of it, and replaced it with Getco's own in-house variant, well, the fact that most of old Getco staff left after cashing out post KCG merger didn't help I guess.

If Knight stuff is bad, Getco's programs should be much better right? Any CEO will always talk down other competitors to make it sound like they did an outstanding job. If Virtu was really that great, why go public? You don't hear of Rentech going public

 

[murray t turtle]

Cifu is one sharp cat.

%%
IBD put them on charts to watch, a good sign, + low PE.NOT sure if its the 388% debt or all the other negative numbers that hurt them, or the sector; ICE,CBOE, NasdaQQQ, has done so much better past 52 weeks.

 

[sle]

What's wrong with diversifying the business product line. Regulations could shut down Virtu in the blink of an eye.

That’s not their business and they do not have any desire to run it. Different risk, different capital requirements etc.

 

[quant1]

Not at all. I’m not jealous that many forms of HFT are just frontrunning in milliseconds. It is what it is.
I’m just happy and thankful I was able to take care of business for a decade and a half before HFT took over.
RRY16 is bitter and jealous that he wasn’t able to do so.

It's amazing how little people know about HFT.