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

<p>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. </p><p>Data-Driven Insights for FX
Trading: Virtu Analytics on 360T</p><p>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. </p><p>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.”</p><p>“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.” </p><p>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.”</p><p>Virtu Financial Q3 2023</p><p>Earlier, <a href="https://www.financemagnates.com/">Finance Magnates</a> reported that <a href="https://www.financemagnates.com/institutional-forex/virtu-financial-delivers-strong-q3-performance-with-47-net-income-growth/">Virtu
Financial reported financial results for the third quarter of 2023</a>, 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. </p><p>However, trading income
experienced a decline, dropping to $316.1 million from $397.4 million in the
same period last year. <a href="https://www.financemagnates.com/tag/virtu-financial/">Virtu</a> 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. </p><p>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.</p>

This article was written by Tareq Sikder at www.financemagnates.com.