122: Doug Cifu – Virtu: Hitting Singles All Day Long—On a Global Scale
Chat With Traders
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The Virtue of Market Making
Vertu is an electronic market making firm that makes bids and offers across 12,000 different financial instruments. It operates in 235 plus markets in 36 different countries, 24 hours a day, five days a week. The firm was founded by former New York Mercantile Exchange trader Vinny Gahran who used to work on the floor of the NYMEX. Vertu says there's always going to be a need for financial intermediaries because buyers and sellers can't trust each other enough to meet in open and transparent way.
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