Virtu Financial's (VIRT) Platform Unveils Two Big Data Tools

Zacks Equity Research
·3-min read

Virtu Financial, Inc.’s VIRT analytics platform, Virtu Analytics, recently introduced two buy-side big data analytics utilities named Open Intell and Open Python. Notably, the new tools, which are being handled by the broker-neutral Workflow Technology and Trade Analytics, Data and Reporting unit of Virtu Financial, can be availed by new and current Analytics subscribers.

Shares of the company lost 0.4% on Jan 26, replicating the declines in the broader markets.

By utilizing a unified framework of web-based technologies, Open Intell and Open Python provides adaptable programming assistance that eases the decision-making process of buy-side clients in the trading strategy selection, cost attribution and counterparty evaluation space. While Open Intell helps clients by retrieving and refining big data through the Data Analytics specialists of Virtu Financial, Open Python is designed to assist clients devoid of in-house and data engineering capacities.

Moreover, these support tools enable Virtu Finanical to aid clients in devising a customised data-driven intelligence ecosystem. Being a suitable alternative to outdated data analysis processes, both the tools will not only help clients to control technology-related infrastructure costs but also address the need of in-house data science staffing.

It has to be noted that Open Intell and Open Python are powered by Amazon Web Services (AWS). Further, they have been integrated into the Open Technology platform of Virtu Financial, which was launched last year in May. It is worth mentioning, this data-as-a-service platform of Virtu Financial is backed with trade data application programming interfaces (APIs), which provides subscribers with improved transaction cost data across equity, FX, fixed income and futures markets.

Shares of this Zacks Rank #3 (Hold) company have surged 65.6% in a year against the industry’s decline of 20.6%.

The latest move is in sync with the company’s efforts to launch several products in a bid to benefit its Transaction Cost Analytics (TCA) investors. In September 2020, it expanded its suite of execution services with the introduction of Prism Frontier. One month prior to that, the company launched a TCA product for FX algo execution.

Furthermore, the recent announcement seems to be time opportune as the TCA space is likely to gain momentum from integrated access and directed machine learning and artificial intelligence in the days ahead. As all companies may not be capable of constructing and maintaining their own data science teams, extending help to a client’s TCA group is of immense importance. This is the perfect scenario for Virtu Financial, which can outsource data maturity and management practices to its clients through both the newly launched tools.

Stocks to Consider

Some better-ranked stocks in the finance space include Euronet Worldwide, Inc. EEFT, BRP Group, Inc. BRP and Capital Southwest Corporation CSWC. While Euronet sports a Zacks Rank #1 (Strong Buy), BRP Group and Capital Southwest carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Euronet, BRP Group and Capital Southwest have a trailing four-quarter earnings surprise of 50.52%, 55.59% and 2.70%, on average, respectively.

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