Virtu Financial expands its services offering with Prism Frontier TCA for traders

Virtu Financial, Inc. (NASDAQ: VIRT), a financial services and technology provider, announced expanding its execution services offering with the launch of post-trade analytics tool, Prism Frontier, designed to provide transparency and forensics around client executions.

Investors need transparency and data in order to perform meaningful analysis of execution quality. This analysis requires a trading system built around it. For this reason, Virtu’s algorithms are set up around trader intuition with simple principles in mind, based on information about a given order and the prevailing market activity, producing a trading strategy with specific intentions with measurable results.

Virtu Financial

Steve Cavoli, Global Head of Virtu Execution Services commented:

Steve Cavoli, Virtu Financial

Steve Cavoli
Source: LinkedIn

Virtu’s algos don’t over-complicate the task they’ve been assigned. They digest massive quantities of market data, in real-time, and make appropriate decisions.  When the trade is complete, Prism makes it easy to review the results.  This is TCA for a trader.  It’s a practical review of execution.

The new Prism Frontier templates include:

  • Prism Post-Trade:  Post-trade analysis with algorithm-specific performance metrics, raw liquidity codes on executions from Virtu’s ATS’ and mark out analysis on fills based on the child order’s intention.
  • Prism Real-Time (expected to be released in 3Q 2020):  Traders can monitor executions in real time, with a focus on harmonizing fills with Virtu’s optimized market data at granular time increments.

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