Virtu Starts Trading in China as Regulator Cracks Down on Algos
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Virtu Financial Inc., one of the world’s biggest high-speed trading firms, has started trading in its 35th country: China.
The company reached an agreement during the second quarter with a Chinese brokerage house to provide liquidity on “a very limited basis,” according to Virtu Chief Executive Officer Doug Cifu. Virtu is using automated market-making strategies to buy and sell commodities listed in mainland China. In other markets, it trades other assets including stocks and currencies.