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How Virtu Financial's Saudi Exchange POSIT Push Can Support Growth
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Key Takeaways
Virtu Financial launched POSIT for 245 liquid Saudi Exchange equities through Al Rajhi Capital.
Institutions can aggregate liquidity and execute large Negotiated Deals with standard T 2 settlement.
Higher POSIT adoption could support trading-related fees, order flow and deeper client relationships.
Virtu Financial, Inc. (VIRT - Free Report) recently launched its POSIT block-trading indications network for 245 of the most liquid equities listed on the Saudi Exchange, expanding its institutional trading reach into Saudi Arabia. The service connects Saudi Exchange members and institutional clients to Virtu’s global block-liquidity network through regional partner Al Rajhi Capital.
Investors can aggregate liquidity, source large trades and complete transactions through the Saudi Exchange’s electronic Negotiated Deals facility. Trades settle on a standard T+2 basis through Edaa. For firms without direct exchange membership, Al Rajhi Capital provides connectivity, brokerage and post-trade services.
State Street Investment Management executed the platform’s first transaction there. It said block liquidity can lower transaction implementation costs, highlighting the practical appeal for asset managers.
The launch gives institutional investors another route to trade Saudi equity positions without relying solely on regular exchange order books. The move brings Virtu’s established block-trading workflow into a market seeking deeper international participation. Negotiated Deals facility allows large transactions to remain on-platform, while aggregation can improve the ability to find matching liquidity.
The launch expands Virtu’s addressable execution-services opportunity through the added securities and can potentially attract more institutional order flow into POSIT, reinforcing Virtu’s network value. Higher adoption could support trading-related fees and deepen client relationships, while the Al Rajhi Capital partnership reduces the need for Virtu to build every local service itself.
VIRT’s Price Performance
Shares of Virtu Financial have surged 58% in the year-to-date period against the 10.9% decline of the industry it belongs to.
Image Source: Zacks Investment Research
Zacks Rank & Other Key Picks
Virtu Financial currently has a Zacks Rank #2 (Buy). Investors interested in the broader Finance space may look at some other top-ranked players like StoneX Group Inc. (SNEX - Free Report) , Marex Group Limited (MRX - Free Report) and PJT Partners Inc. (PJT - Free Report) . While StoneX and Marex currently sport a Zacks Rank #1 (Strong Buy) each, PJT Partners has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for StoneX’s current-year earnings is pegged at $4.35 per share, which indicates 66% year-over-year growth. It witnessed one upward estimate revision in the past 60 days against no downward movement. The consensus mark for SNEX’s current-year revenues suggests a 41.9% surge from a year ago.
The Zacks Consensus Estimate for Marex’s current-year earnings indicates 46.4% year-over-year growth. During the past 60 days, MRX has witnessed two upward estimate revisions against none in the opposite direction. It beat earnings estimates in each of the past four quarters, with an average surprise of 10.4%.
The Zacks Consensus Estimate for PJT Partners’ current-year earnings suggests a 14.6% year-over-year improvement. During the past 60 days, PJT has witnessed one upward estimate revision against no cuts. The consensus mark for current-year revenues is pegged at $1.98 billion, indicating a 15.5% increase from a year ago.
View the Zacks #1 Rank List
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How Virtu Financial's Saudi Exchange POSIT Push Can Support Growth
Key Takeaways
Virtu Financial, Inc. (VIRT - Free Report) recently launched its POSIT block-trading indications network for 245 of the most liquid equities listed on the Saudi Exchange, expanding its institutional trading reach into Saudi Arabia. The service connects Saudi Exchange members and institutional clients to Virtu’s global block-liquidity network through regional partner Al Rajhi Capital.
Investors can aggregate liquidity, source large trades and complete transactions through the Saudi Exchange’s electronic Negotiated Deals facility. Trades settle on a standard T+2 basis through Edaa. For firms without direct exchange membership, Al Rajhi Capital provides connectivity, brokerage and post-trade services.
State Street Investment Management executed the platform’s first transaction there. It said block liquidity can lower transaction implementation costs, highlighting the practical appeal for asset managers.
The launch gives institutional investors another route to trade Saudi equity positions without relying solely on regular exchange order books. The move brings Virtu’s established block-trading workflow into a market seeking deeper international participation. Negotiated Deals facility allows large transactions to remain on-platform, while aggregation can improve the ability to find matching liquidity.
The launch expands Virtu’s addressable execution-services opportunity through the added securities and can potentially attract more institutional order flow into POSIT, reinforcing Virtu’s network value. Higher adoption could support trading-related fees and deepen client relationships, while the Al Rajhi Capital partnership reduces the need for Virtu to build every local service itself.
VIRT’s Price Performance
Shares of Virtu Financial have surged 58% in the year-to-date period against the 10.9% decline of the industry it belongs to.
Zacks Rank & Other Key Picks
Virtu Financial currently has a Zacks Rank #2 (Buy). Investors interested in the broader Finance space may look at some other top-ranked players like StoneX Group Inc. (SNEX - Free Report) , Marex Group Limited (MRX - Free Report) and PJT Partners Inc. (PJT - Free Report) . While StoneX and Marex currently sport a Zacks Rank #1 (Strong Buy) each, PJT Partners has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for StoneX’s current-year earnings is pegged at $4.35 per share, which indicates 66% year-over-year growth. It witnessed one upward estimate revision in the past 60 days against no downward movement. The consensus mark for SNEX’s current-year revenues suggests a 41.9% surge from a year ago.
The Zacks Consensus Estimate for Marex’s current-year earnings indicates 46.4% year-over-year growth. During the past 60 days, MRX has witnessed two upward estimate revisions against none in the opposite direction. It beat earnings estimates in each of the past four quarters, with an average surprise of 10.4%.
The Zacks Consensus Estimate for PJT Partners’ current-year earnings suggests a 14.6% year-over-year improvement. During the past 60 days, PJT has witnessed one upward estimate revision against no cuts. The consensus mark for current-year revenues is pegged at $1.98 billion, indicating a 15.5% increase from a year ago.