Sunday, 1 February 2015
Last updated 2 days ago
Apr 2 2014 | 10:53am ET
A high-frequency trading firm led by a former hedge fund manager has postponed its initial public offering in the wake of a storm of bad publicity for the industry.
Virtu Financial, which is headed by Actius Capital Management founder Vincent Viola, won’t begin marketing itself until after April 20, Bloomberg News reports. The firm made the decision last night, following the media reaction to the release of a new book condemning high-frequency trading.
That book, Flash Boys by Michael Lewis, argues that high-speed trading has rigged U.S. stock markets.
Virtu filed for an IPO last month. Its roadshow was set to begin about a week earlier than now planned.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…