High Frequency Trading Firm Virtu Plans Rare IPO

High frequency trading is normally a private, non-disclosed business typically kept under the radar and beyond the prying eyes of regulators.  But Virtu Financial is blazing new trails, filing confidential documents for an initial public stock offering, according to a report in the Wall Street Journal.

Former derivatives exchange offical founded Virtu

The firm, with 150 employees and founded by former chairman of the New York Mercantile Exchange (NYMEX) Vincent Viola, has been profitable with $274 million of net 2013 earnings on $415 million in gross revenue, up almost 11% from the prior year, according to the report. Performance reviewed by the Wall Street Journal showed profits up the previous two years. With his background in derivatives exchange...