Virtu Financial announces strategic collaboration with ClearingBid

Virtu Financial announced a strategic engagement with ClearingBid, the world’s first IPO investing network. Under the terms of the agreement, ClearingBid’s proprietary IPO network will leverage Virtu ITG Net’s scaled connectivity platform. All brokers and financial institutions that rely on Virtu’s connectivity to complete millions of transactions every day will now be able to place orders for IPO shares using the same order entry systems as secondary market limit orders.”Virtu is one of the industry’s largest trading providers with premier processing and fulfillment capabilities,” noted Matt Venturi, ClearingBid CEO and Founder. “By providing investors with seamless order entry and accessibility, and having Virtu ITG Net serve as our preferred network service provider, ClearingBid moves one step closer in our mission to enhance an often inefficient and opaque IPO process. Our partnership with Virtu further supports ClearingBid’s ability to leverage today’s securities industry infrastructure and order entry protocols to meet the growing demand for access to IPO investing. The shared vision, to create a new IPO investing standard while driving further industry transparency, will help to expand investment opportunities for retail and institutional investors alike.”