Virtu to Sell Electronic Bond Trading Platform

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08/01/2017 | 10:49 pm

By Alexander Osipovich

Electronic trading firm Virtu Financial Inc. is moving to sell BondPoint, the fixed-income trading platform it took over last month when it completed its acquisition of KCG Holdings Inc., a person familiar with the situation said.

The sale could raise at least $400 million for Virtu, the person said. Firms that have expressed interest include Deutsche Börse AG, Intercontinental Exchange Inc., MarketAxess Holdings Inc., Nasdaq Inc., NEX Group Plc and Tradeweb Markets LLC, the person said. All six firms declined to comment.

News of Virtu's plans to sell BondPoint was earlier reported by Bloomberg.

BondPoint is an electronic trading venue for corporate, municipal, government agency and other bonds. In 2016, an average of $201.7 million in par value worth of bonds was traded daily on BondPoint, up more than 40% from the year before, according to regulatory filings.

Write to Alexander Osipovich at [email protected]

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