Virtu Financial Gains 18% On First Day Of Trading

shares were up about 18 percent recently on launch day for its initial public offering. About 16.5 million shares were priced Wednesday at $19 a share, and the company changed hands around mid-day Thursday at $22.45. Virtu, which provides controversial high-frequency trading services, said it will use a significant part of proceeds from the offering to acquire the holdings of pre-IPO equity holders. About 95 percent of the company's class A common shares are held by Chief Executive Vincent Viola, a former chairman of the New York Mercantile Exchange and current owner of the Florida Panthers ice hockey team. Virtu delayed plans for an IPO in 2014 in the wake of negative light shed on high-frequency trading by "Flash Boys," a book authored by Michael Lewis.