Virtu Financial Announces Strategic Collaboration with ClearingBid to Expand ClearingBid’s Platform for Primary Share IPO Investing
- Collaboration allows expanded access to IPOs
- Brokers and investors can submit bids for primary share offerings to achieve allocations on all in-the-money orders
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’s intelligent, integrated network, ITG Net, enables clients to go well beyond the basics of connectivity. In addition to providing reliable, 24/6 managed access to trade with over 700 brokers and market centers globally, ITG Net provides invaluable tools and transparency to enhance clients’ trading process before, during, and after the trade.
“Virtu is one of the industry’s largest trading providers with premier processing and fulfillment capabilities,” noted
The combined capabilities of Virtu’s global FIX connectivity solutions and ClearingBid’s IPO network aims to make primary share IPO investing open to all brokers on the network and importantly their end investors. ClearingBid’s price discovery platform, which allows issuing companies to optimize the IPO price while achieving the broadest potential investor participation, will be further enhanced by Virtu ITG Net’s connectivity with hundreds of broker-dealers who can now seamlessly onboard with ClearingBid’s primary market solution.
About
Virtu Media Relations media@virtufinancial.com
About
ClearingBid is the world’s first and only IPO network. ClearingBid opens IPO investing for all, drives true market-based pricing, assures equitable allocations, and creates economic value for companies, investors and the entire investment ecosystem. Our goal is to open the black box of IPO investing and to become the de facto network for every IPO. For more information, visit www.clearingbid.com
ClearingBid Media Relations media@clearingbid.com
Source: Virtu Financial, LLC