Virtu

Nasdaq: Under Virtu Market Data Axe

A quick math assignment: @Nasdaq earned $540 million in information services (aka - #marketdata) revenue in 2016, up 5.5% over 2015 (and, not to put to fine a point on it, but this growth is slowing as 2015 v. 2014  was +8.2%). @KCGHQ spent $148 million on communications and data processing in 2016. @VirtuFinancial is on its way to acquiring KCG - and is on record with a strategy to ultimately consolidate both operations onto a single, unified trading platform. No doubt, this is not lip service. What is the impact on Nasdaq - and other exchanges - whose revenue growth has become so dependent on market data sales? If you are ambitious, here's some additional intelligence that you could use in the analysis: (We have more in the can if you need it.) BTW, you have to guess that all #HFT leaders have really spiffy axes, no?

By | 2017-04-28T11:24:28+00:00 April 28th, 2017|Alphacution Feed|