Virtu Financial, Inc. a leading provider of global, multi-asset financial services that delivers liquidity and innovative, transparent products across the complete investment cycle to the global markets, announced the launch of Alert+, a new workflow solution available in POSIT Alert that enhances the features of POSIT Alert by providing automated routing to Virtu’s Covert execution algorithm to seek non-displayed liquidity.
Virtu’s global institutional network of block indications, POSIT Alert, helps clients connect with block liquidity opportunities globally in 38 countries by sourcing liquidity directly from traders’ OMSs, as well as electronic conditional orders, and enables automated matching.
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Alert+ allows Posit Alert front-end users to seek non-displayed liquidity more efficiently by electing to immediately route residual share quantities to Virtu’s Covert execution algorithm upon the completion of a match in POSIT Alert. This new tool enables traders to automate workflows and is designed to source incremental non-displayed liquidity and, when desired, complete orders more quickly with the goal of reducing execution risk for the trader.
“For years now, clients using the POSIT Alert front-end application have benefited from having access to POSIT Alert’s global network of block liquidity, as well as Virtu’s suite of transparent execution algorithms,” said Brad Johmann, Virtu’s Global Head of POSIT Alert and US ATSs. “With the launch of Alert+, clients now have the option to integrate these two products through automation to enhance and streamline their search for non-displayed liquidity.”
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“As non-displayed liquidity continues to grow around the world, our clients have asked for more tools to efficiently source this liquidity to improve their execution outcomes. Alert+ was built with the goals of enhancing our clients’ execution performance by leveraging Virtu’s unique liquidity seeking products and making clients’ lives easier via automation,” added Michelle Butler, European Head of POSIT Alert.
POSIT Alert, POSIT, and the Virtu Frontier suite of execution algorithms are available in North America, Europe and the Asia Pacific region via Virtu’s multi-asset class and broker-neutral Triton execution management system (EMS) and also via FIX connection to Virtu from third-party trading systems.
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