Virtu Financial forms consortium to expand RFQ-hub

Dan Barnes
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Virtu Financial, the market maker, broker and financial services technology provider, has formed formation of RFQ-hub Holdings to support the growth of RFQ-hub, Virtu’s bilateral multi-asset and multi-dealer request-for-quote (RFQ) platform.

In addition to Virtu, founding consortium members include liquidity providers Citadel Securities, Flow Traders and Jane Street Capital, asset manager BlackRock and electronic trading platform MarketAxess. MarketAxess will be taking a significant minority stake in the platform. RFQ-hub is intended to bring asset managers and liquidity providers together to help electronically deliver aggregated and competitive liquidity, streamline workflow and improve pricing with a focus on equity and fixed income listed and over-the-counter (OTC) derivatives, structured products and exchange-traded funds (ETFs). The goal of the newly formed consortium is to support the next stage of growth for RFQ-hub by fostering the creation of a global institutional platform designed specifically for these instruments.
Joseph Molluso, co-president and co-chief operating officer of Virtu Financial.
“The founding members of this consortium represent a diverse array of market participants organizing for the common goal of improving access and execution of ETFs and derivatives for institutional investors,” said Joseph Molluso, co-president and co-chief operating officer of Virtu Financial. “Together, we believe we can expand RFQ-hub’s multi-asset offering to clients across the globe.” ©Markets Media Europe, 2022 TOP OF PAGE