The electronic market maker revealed on Friday that Michael Viola, a member of Virtu Financial’s board of directors, will replace Robert Greifeld as chairman after the latter stepped down from the role. Greifeld has been Chairman of Virtu Financial since July 2017.
In a statement released on Friday, Virtu Financial explained that Greifeld has resigned to focus on other endeavors, including launching a technology-focused investment fund, Cornerstone FTM. The former president will also hold board positions in other financial and charitable organizations.
Viola, who will succeed Greifeld, joined the Virtu Financial Board in 2016. Until his selection to replace Greifeld, he served as chair of the company’s Nomination and Corporate Governance Committee, a duty he assumed in 2019.
Speaking about the development, Douglas Sifu, CEO and co-founder of Virtu Financial, noted that Greifeld’s leadership has been “critical” to the company. “I look forward to Michael becoming Chairman of the Board and continuing to build on our successes as a company,” said Sifu.
Commenting on his exit from Virtu Financial, Greifeld expressed his pleasure working with the company’s management and board of directors for the past six years, adding that he is optimistic about the company’s future.
“I will continue to serve as president of USATF, the Cornerstone and Run Gum entities, and as a board member of Financeware LLC, Capital ROCK LLC, and Runway Growth Finance,” Greifeld said.
Virtu Financial sees a quarterly jump in revenue
As a financial services company, Virtu Financial offers trading solutions to its clients. The company’s product range covers to implement
to implement
Execution is the process during which a client submits an order to a brokerage, which subsequently triggers its execution resulting in an open position in a particular asset. Execution of the order occurs only when it is filled. There is usually a time delay between submission of the request and execution which is called latency. In the retail forex trading space, trusted brokers always strive to provide the best execution to their clients in order to maintain a solid business relationship with them. This is Shrek
Execution is the process during which a client submits an order to a brokerage, which subsequently triggers its execution resulting in an open position in a particular asset. Execution of the order occurs only when it is filled. There is usually a time delay between submission of the request and execution which is called latency. In the retail forex trading space, trusted brokers always strive to provide the best execution to their clients in order to maintain a solid business relationship with them. This is Shrek
Read this termAnd Liquidity
Liquidity
The term liquidity refers to the process, speed, and ease with which a particular asset or security can be converted into cash. Notably, the liquidity forecast is to hold at the market price, with the most liquid assets representing cash, and the most liquid assets being cash itself. In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting the market price. · Nothing is more liquid than cash, while representing other assets
The term liquidity refers to the process, speed, and ease with which a particular asset or security can be converted into cash. Notably, the liquidity forecast is to hold at the market price, with the most liquid assets representing cash, and the most liquid assets being cash itself. In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting the market price. · Nothing is more liquid than cash, while representing other assets
Read this term Providing broker-neutral, multi-agent sourcing, analytics, and platforms in workflow technology.
Greifeld’s exit as chairman comes even as the company continues to struggle to maintain its financial strength. At the end of the first quarter of 2023, Virtual Financial reported a 22.6% increase in its quarterly revenue despite a 12.9% decrease in revenue compared to the prior year period. In addition, the company also saw a 43% decline in its net income in 2022.
The electronic market maker revealed on Friday that Michael Viola, a member of Virtu Financial’s board of directors, will replace Robert Greifeld as chairman after the latter stepped down from the role. Greifeld has been Chairman of Virtu Financial since July 2017.
In a statement released on Friday, Virtu Financial explained that Greifeld has resigned to focus on other endeavors, including launching a technology-focused investment fund, Cornerstone FTM. The former president will also hold board positions in other financial and charitable organizations.
Viola, who will succeed Greifeld, joined the Virtu Financial Board in 2016. Until his selection to replace Greifeld, he served as chair of the company’s Nomination and Corporate Governance Committee, a duty he assumed in 2019.
Speaking about the development, Douglas Sifu, CEO and co-founder of Virtu Financial, noted that Greifeld’s leadership has been “critical” to the company. “I look forward to Michael becoming Chairman of the Board and continuing to build on our successes as a company,” said Sifu.
Commenting on his exit from Virtu Financial, Greifeld expressed his pleasure working with the company’s management and board of directors for the past six years, adding that he is optimistic about the company’s future.
“I will continue to serve as president of USATF, the Cornerstone and Run Gum entities, and as a board member of Financeware LLC, Capital ROCK LLC, and Runway Growth Finance,” Greifeld said.
Virtu Financial sees a quarterly jump in revenue
As a financial services company, Virtu Financial offers trading solutions to its clients. The company’s product range covers to implement
to implement
Execution is the process during which a client submits an order to a brokerage, which subsequently triggers its execution resulting in an open position in a particular asset. Execution of the order occurs only when it is filled. There is usually a time delay between submission of the request and execution which is called latency. In the retail forex trading space, trusted brokers always strive to provide the best execution to their clients in order to maintain a solid business relationship with them. This is Shrek
Execution is the process during which a client submits an order to a brokerage, which subsequently triggers its execution resulting in an open position in a particular asset. Execution of the order occurs only when it is filled. There is usually a time delay between submission of the request and execution which is called latency. In the retail forex trading space, trusted brokers always strive to provide the best execution to their clients in order to maintain a solid business relationship with them. This is Shrek
Read this termAnd Liquidity
Liquidity
The term liquidity refers to the process, speed, and ease with which a particular asset or security can be converted into cash. Notably, the liquidity forecast is to hold at the market price, with the most liquid assets representing cash, and the most liquid assets being cash itself. In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting the market price. · Nothing is more liquid than cash, while representing other assets
The term liquidity refers to the process, speed, and ease with which a particular asset or security can be converted into cash. Notably, the liquidity forecast is to hold at the market price, with the most liquid assets representing cash, and the most liquid assets being cash itself. In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting the market price. · Nothing is more liquid than cash, while representing other assets
Read this term Providing broker-neutral, multi-agent sourcing, analytics, and platforms in workflow technology.
Greifeld’s exit as chairman comes even as the company continues to struggle to maintain its financial strength. At the end of the first quarter of 2023, Virtual Financial reported a 22.6% increase in its quarterly revenue despite a 12.9% decrease in revenue compared to the prior year period. In addition, the company also saw a 43% decline in its net income in 2022.