Virtu to Sell Electronic Bond Trading Platform
02 August 2017 - 9:04AM
Dow Jones News
By Alexander Osipovich
Electronic trading firm Virtu Financial Inc. is moving to sell
BondPoint, the fixed-income trading platform it took over last
month when it completed its acquisition of KCG Holdings Inc., a
person familiar with the situation said.
The sale could raise at least $400 million for Virtu, the person
said. Firms that have expressed interest include Deutsche Börse AG,
Intercontinental Exchange Inc., MarketAxess Holdings Inc., Nasdaq
Inc., NEX Group Plc and Tradeweb Markets LLC, the person said. All
six firms declined to comment.
News of Virtu's plans to sell BondPoint was earlier reported by
Bloomberg.
BondPoint is an electronic trading venue for corporate,
municipal, government agency and other bonds. In 2016, an average
of $201.7 million in par value worth of bonds was traded daily on
BondPoint, up more than 40% from the year before, according to
regulatory filings.
Write to Alexander Osipovich at
alexander.osipovich@dowjones.com
(END) Dow Jones Newswires
August 01, 2017 18:49 ET (22:49 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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