Wall Street trading giant Virtu cut staff by half and laid in to a $1.4 billion acquisition — now it can’t wait for market chaos (VIRT)
|11/09/2017||Posted by BusinessMediaguide.Com under General World News||
- Virtu Financial, which completed its acquisition of KCG Holdings in July, announced its first joint results Tuesday and the stock popped as much as 18%.
- During an earnings call, Virtu CEO Doug Cifu said the firm brought its headcount down from a combined 1,250 between the two firms to 648. He also suggested that KCG had been poorly run.
- Cifu said the merger is going better than expected.
The writing was on the wall from the beginning.
When Virtu Financial — which had grown to become one of the largest high-speed trading firms in less than a decade — acquired rival read more >>>