Virtu Financial, a leading provider of global financial services technology, announced the launch of its SEC Rule 606 Reporting Aggregation service, providing US buy-side subscribers with the ability to analyze the routing and execution practices across all their brokers from a single access point.

Virtu’s 606 Reporting Aggregation service addresses the need for clients to easily analyze vast amounts of data that is now provided from enhanced broker disclosures as required under the SEC’s newly implemented Rule 606(b)(3). Virtu’s aggregation service helps facilitate performance comparison with flexible and intuitive visualizations across brokers and includes metrics such as spread capture, fees and rebates by venue, routing choices and resting times.

The new service complements Virtu’s Analytics Portal which will now allow clients to analyze their Rule 606(b)(3) data from each of their respective brokers and create custom reports, use any number of standard reporting templates and/or marry the data to their existing TCA analytics.

“The purpose of Virtu’s SEC Rule 606 Aggregation Service is to provide clients with actionable insights into how their broker-dealers route orders, providing more transparency around each broker’s routing and execution practices,” said Kevin O’Connor, Global Head of Virtu’s Trade Analytics and Data. “When coupled with Virtu’s global analytics infrastructure, this new service will help improve execution quality assessment across brokers via a single, user-friendly platform, further demonstrating the firm’s commitment to innovation and technology for its clients.”

Virtu’s 606 Reporting Aggregation service is available via the Virtu Analytics Portal, which is offered by Virtu’s broker-neutral Workflow Technology and Trade Analytics & Data division, a provider of multi-asset solutions to buy- and sell-side firms around the globe to help monitor, analyze and improve quality of execution and streamline workflows.

Source: Virtu