Company Overview
Virtu Financial, Inc. is a leading financial services firm specializing in market making and high-frequency trading. Founded in 2008 by Vincent Viola, the company is headquartered in New York City and publicly traded on Nasdaq with the symbol VIRT. Virtu is renowned for its cutting-edge proprietary technology, enhancing liquidity and transparency in global markets and operating across over 235 exchanges worldwide. Virtu offers a comprehensive suite of services, including execution, liquidity sourcing, analytics, broker-neutral platforms, and market-making services across equities, commodities, currencies, options, fixed income, and other securities.
Financial Performance
In 2024, Virtu Financial reported a revenue of $2.88 billion, an operating income of $645 million, and a net income of $276 million. The firm holds substantial total assets of $15.4 billion and total equity of $1.25 billion. As of 2025, Virtu employs approximately 969 individuals.
Leadership Team
- Douglas A. Cifu - Chief Executive Officer
Co-founding Virtu Financial with Vincent Viola, Douglas Cifu has been at the helm as CEO since 2013. Prior to his involvement with Virtu, Cifu was a partner at Paul, Weiss, Rifkind, Wharton & Garrison LLP, where he specialized in corporate law. He also co-owns the NHL's Florida Panthers. Cifu's expertise in corporate governance and strategic vision plays a pivotal role in Virtu's leadership in the high-frequency trading sector.
- Michael T. Viola - Chairman
Serving as a board member since 2016 and chairman since 2023, Michael Viola contributes substantial experience from his roles as a senior trader and as chair of the Nominating and Corporate Governance Committee. Viola actively guides corporate governance and strategic oversight at Virtu.
- Stephen Cavoli - Executive Vice President, Global Head of Execution Services
Leading Virtu's execution services since 2015, Stephen Cavoli applies his extensive experience gained from his tenure at Morgan Stanley. He focuses on aligning client needs across the U.S. and Latin America, providing strategic market guidance and insights.
Strategic Initiatives and Achievements
Virtu Financial has expanded its operations strategically via key acquisitions like KCG Holdings for $1.4 billion in 2017 and Investment Technology Group for $1 billion in 2019, which strengthened its market-making and client service capabilities. The firm actively advocates for market transparency and stringent standards in electronic market making and engages deeply in regulatory initiatives.
Community and Industry Engagement
Through its 'Give Back' program, Virtu has achieved over 10,000 volunteer hours since 2013. It has earned industry accolades, notably being recognized as the #1 Leading Global EMS by The Trade in 2021.
Competitor Profiling
Virtu Financial operates within a competitive landscape, engaging with several established competitors in the financial services sector.
Key Competitors
1. Cboe Global Markets (NASDAQ: CBOE)
- Known for derivatives exchange innovations, Cboe reported a 2023 revenue of USD 3.77 billion and net income of USD 761 million.
2. TPG Inc. (NASDAQ: TPG)
- A prestigious private equity firm, TPG manages USD 245.9 billion in assets and recorded USD 3.50 billion in revenue for 2024.
3. Nomura Holdings Inc. (NMR)
- A global player in wealth and investment management, Nomura operates in 30 countries with a workforce of 26,000 as of 2024.
4. The Carlyle Group (NASDAQ: CG)
- With assets under management totaling USD 441 billion, Carlyle is a significant force in global investment and private equity markets.
5. Futu Holdings Limited (NASDAQ: FUTU)
- Focusing on digital brokerage and wealth management, Futu is technologically advanced with platforms such as Futubull and moomoo, and operates in key markets like the United States, Hong Kong, and Singapore.
Financial Comparison
Virtu boasts a market cap of USD 5.60 billion, with USD 2.6 billion in revenue and about 1,183 employees. Its P/E ratio stands at 12.18, with a dividend yield of 2.70% and a past year performance of 88.96%, marking its resilience and attractiveness to investors.
Strategic Insights
Virtu Financial maintains a strong position in the trading and investment landscape, focusing on trading efficiency and strategic market positioning amid competition from major exchange and financial firms like Cboe and Carlyle Group. Competitors emphasize agility, digital transformation, and expansive service offerings to attract global investors.
