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
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Comments (1)
  • Yorick
    , contributor
    Comments (602) | 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 2014, 12:08 PM Reply Like
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