Stephen Cavoli, Global Head of Execution Services at Virtu Financial commented:
This latest enhancement is another example of our continued strategic investment in our global Execution Services platform and our firm-wide strategy of leveraging our scalable, multi-asset technology to service our clients.
Interlisted Conditional orders provide additional liquidity to POSIT Alert Canada for Canadian/US interlisted securities via access to US algorithm flow which is trading in USD. US algos handling orders for these interlisted securities can now send a USD conditional order to POSIT Alert Canada and Virtu will use FX technology to represent the Canadian ticker in POSIT Alert Canada within the US quote. Post-trade, with the trade executed in Canada, all executions are automatically converted to the respective currency and settle in the local market. Canadian and US traders can benefit by matching these two sources of block liquidity in the same security but priced in different currencies.
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