Skip to Content

Virtu MatchIt

Who can access MatchIt?

Do Virtu's other trading desks access MatchIt?

Can subscribers opt out of interaction with Virtu principal orders?

Do you route orders to other destinations?

No. MatchIt does not route orders out of the ATS.

Do you use IOI’s or Conditional Orders ?

Is Minimum Execution Quantity supported by MatchIt?


Does the Minimum Execution Quantity (MEQ) constraint apply to every execution or is it dropped after the first execution?

The MEQ constraint is applied on every potential crossing opportunity, not just the first execution.

Do you aggregate multiple contra-side orders in order to meet a Minimum Execution Quantity?

Do you execute the leaves quantity below the Minimum Execution Quantity or reject it back?

The balance is rejected back.

What is the default logic if an order is sent without NBBO instructions?

Do you accept odd lot orders?

Yes, we accept odd lots for both IOC and Day orders.

Do you offer segmentation?

Yes. We use quantitative statistics to segment subscribers into different liquidity profile buckets.

Do you allow subscribers to block counterparties based on type (e.g., MM, Exchange, etc.)?

No, we use a data-driven approach to blocking.

How are MatchIt liquidity profiles generated and how does the blocking work?

If I want to utilize blocking, how is it implemented?

Why do I care about liquidity profiles and segmentation?

Do client orders get priority over your principal and proprietary orders?

No, they do not. MatchIt does not prioritize one group of subscriber orders over another.

Does your ATS have order types or sessions that not everyone has access to?

Yes, the VAL Crossing Session is reserved for Virtu Americas LLC and its affiliates only.

Do you execute orders in a locked market?

Do you execute orders in a crossed market?

No, MatchIt does not execute in a crossed market.

Do you advertise your dark volume? If so, can we opt out of our orders?

Yes, we do advertise our volumes after the close of normal market hours. Yes, you can opt out of doing this by request.

How do you distribute price improvement?

Do you support a post-only order type?

Yes. Tag 9135=Y

Does MatchIt make any risk features available?

Yes, max order size and max order notional only.

What securities are available for trading in MatchIt?

When is Matching suspended in your ATS?

When would modifying an order result in losing queue position?

Any modification of a resting order will result in losing queue position except in the case of reducing the order quantity.