How Virtu trained its intelligent algos
Firm has sought to meld traders’ instincts with insights from ‘massive scale’ data
“All we’ve done is coded everything a human trader would ever do.”
This is how Stephen Cavoli, head of execution services at market-marker and execution services provider Virtu Financial, describes the firm’s machine learning-powered agency execution algorithms. By Cavoli’s estimates, there are only a handful of firms that have the technical skills and depth of pocket to do it. Buy-siders say he is probably right.
Virtu Financial comes to the task having started out as a high-tech market-maker
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