High-speed trader Virtu Financial eyes $2.6 billion valuation in IPO

Fortune

Electronic trading firm Virtu Financial is expecting a valuation of up to $2.6 billion in its initial public offering, a year after the company postponed its first attempt to go public amid a furor over high-frequency trading.

Virtu Financial said on Monday its offering of 16.5 million Class A shares is expected to be priced at between $17 and $19 per share, raising up to $314 million.
The company is a market-maker in equities, fixed income, currencies and commodities. It earns money through « spreads » – the difference between what buyers and sellers are willing to pay or accept in a trade.

Virtu Financial’s decision to postpone the IPO last year followed the release of Michael Lewis’ book « Flash Boys: A Wall Street Revolt », which questioned whether markets were rigged in favor of high-frequency traders.

The company also caused a stir when it revealed last year that it had only one…

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