Market Overview

This Market Maker Has Had Only One Losing Day On Record

This Market Maker Has Had Only One Losing Day On Record
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Virtu Financial Inc (NASDAQ: VIRT) shares are climbing throughout the morning following the broad market selloff at the open.

Automated trading has been steadily declining on the NYSE as Payment For Order Flow (PFOF) continues to route trades away from established market centers and into Alternative Display Facilities. Virtu has certainly benefited from this flow and perhaps even the steady expansion of the drift experienced by exchange clocks.

(Click To Enlarge)

On August 13, 2015 Eric Hunsader of Nanex highlighted the specific drift experienced on NYSE as the tape feeds began slow thanks to increasing message rates confusing the exchange systems:

Amid market uncertainty, one company maintains its profits and performance in up and down markets: Virtu. In over 1,485 trading days, the firm has had one losing day according to data from the company's April S-1 Filing.

Image credit: Rafael Matsunaga, Flickr

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