Virtu Financial (VIRT) IPO Opens Up 21%

Today's IPO for Virtu Financial (NASDAQ: VIRT) opened for trading at $23 after pricing 16,532,272 shares of its Class A common stock at a price to the public of $19 per share, the high end of the expected $17-$19 range.

Goldman, Sachs & Co., J.P. Morgan and Sandler O'Neill + Partners, L.P. are acting as lead joint bookrunners for the offering. BMO Capital Markets, Citigroup, Credit Suisse, Evercore ISI and UBS Investment Bank are acting as book-running managers for the offering. Academy Securities, CIBC and Rosenblatt Securities are acting as co-managers for the offering.

Virtu is a leading technology-enabled market maker and liquidity provider to the global financial markets.

For the years ended December 31, 2014 and 2013, total revenues were approximately $723.1 million and $664.5 million, respectively, trading income, net, was approximately $685.2 million and $623.7 million, respectively, Adjusted Net Trading Income was approximately $435.0 million and $414.5 million, respectively, net income was approximately $190.1 million and $182.2 million, respectively, and Adjusted Net Income was approximately $226.5 million and $215.4 million, respectively.

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