NEW YORK, July 05, 2016 (GLOBE NEWSWIRE) -- Virtu Financial (NASDAQ:VIRT) announced today it is making a strategic minority investment in SBI Japannext, Co., Ltd., a leading Proprietary Trading System ('PTS') based in Tokyo. The investment is part of Virtu's strategic long-term commitment to the Japanese marketplace. Japannext operates a round-the-clock venue with 29 active members (local and global brokerage houses) and is the oldest thriving PTS venue in Japan.
"In Virtu, we are privileged to gain a global leader in electronic trading as a partner," said Chuck Chon, CEO of Japannext. "As a multi-asset liquidity provider in markets around the world, Virtu brings a breadth of experience and expertise to support Japannext's growth strategy. We are very excited about the opportunity to collaborate more closely with such a pioneer in the space."
"Entering into a strategic relationship with Japannext is a meaningful opportunity for Virtu to increase its footprint within Asia. Japannext's best-in-class technology and history of innovation have allowed them to become the leading PTS in Japan, and make them a natural partner for Virtu in the region," said Douglas A. Cifu, Chief Executive Officer of Virtu. Mr. Cifu will join Japannext's Board of Directors in association with Virtu's investment.
Terms of the transaction were not disclosed.
About Virtu Financial, Inc.: Virtu is a leading technology-enabled market maker and liquidity provider to the global financial markets. We stand ready, at any time, to buy or sell a broad range of securities, and we generate revenue by buying and selling large volumes of securities and other financial instruments and earning small amounts of money based on the difference between what buyers are willing to pay and what sellers are willing to accept, which we refer to as "bid/ask spreads." We make markets by providing quotations to buyers and sellers in more than 12,000 securities and other financial instruments on more than 230 unique exchanges, markets and liquidity pools in 35 countries around the world. We believe that our broad diversification, in combination with our proprietary technology platform and low-cost structure, enables us to facilitate risk transfer between global capital markets participants by supplying liquidity and competitive pricing while at the same time earning attractive margins and returns.
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The foregoing information contains certain forward-looking statements that reflect the company's current views with respect to certain current and future events and financial performance. These forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the company's operations and business environment which may cause the company's actual results to be materially different from any future results, expressed or implied, in these forward-looking statements. Any forward-looking statements in this release are based upon information available to the company on the date of this release. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could potentially affect the company's financial results may be found in the company's filings with the Securities and Exchange Commission.
Virtu Financial, Inc.