Seeking Alpha

Virtu files for Nasdaq IPO

  • Virtu Financial has submitted an application for an IPO on Nasdaq, where it intends to trade under the symbol "VIRT."
  • The high-speed trading firm filed to raise $100M as a placeholder to calculate fees, although Bloomberg reports that the company hopes to draw in $250M at a valuation of up to $3B.
  • Virtu has only suffered one losing trading day in five years, and last year, net income more than doubled to $182.2M as revenue climbed 8% to $664.5M.
  • However, Virtu disclosed that the Commodity Futures Trading Commission is investigating the firm's "participation in certain incentive programs offered by exchanges or venues" from July 2011 to November 2013. (S-1)
  • ETF: IPO
Comments (1)
  • Yorick
    , contributor
    Comments (522) | Send Message
     
    Or as ZeroHedge comments, profitability is slipping so it is time to sell this to the suckers now that the easy money has been made.
    11 Mar, 12:08 PM Reply Like
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