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Virtu Triton
Triton is Virtu ’ s global , multi-asset , brokerneutral , dedicated EMS platform which allows clients to trade on hundreds of venues , across over 50 countries and a variety of asset classes , including FX , fixed income , global equities , ETFs and listed derivatives . Its broker connectivity is powered by ITG NET and connects to over 700 brokers and venues . The platform also features native integration with the company ’ s multi-asset class Virtu Trade Analytics , data and reporting platform , providing clients seamless integration and consistent processes across asset classes . Triton currently has over 300 clients on the buyside , 155 of which provided feedback for this year ’ s survey , ranking the vendor first among its peers in terms of the total number of responses received .
We see a stella performance from Virtu Triton in 2023 . Its overall score of 6.34 , once again places Virtu as the highest rated EMS provider in this year ’ s survey . Virtu achieved outperformance status in all 13 categories under review , the most significant areas of outperformance compared to the category averages were client service
personnel (+ 0.65 ), product development (+ 0.54 ), ease-of-use (+ 0.52 ) and ease of integration to internal systems (+ 0.51 ).
In terms of year-over-year comparisons , Virtu experienced marginal declines in just two areas ; overall cost of operation ( -0.03 ) and ease of integration to internal systems ( -0.01 ). In contrast , the vendor saw year-over-year improvement across all other categories , particularly in ease-of-use (+ 0.14 ) and product development (+ 0.12 ). Virtu ’ s highest score in this year ’ s survey was in client service personnel ( 6.68 ), while its lowest was in breadth of asset class coverage ( 5.80 ).
Speaking to the additional features desired from clients of Virtu , respondents highlighted additional flexibility and user customisation capabilities , a chat function within the EMS to connect to support , API connectivity to internal systems , increased interoperability with other systems , enhanced system stability , real-time TCA functionality , FX algo integration and further expansion of its asset class coverage including crypto .
VIRTU TRITON RATINGS FOR EMS PERFORMANCE
Reliability and availability |
Latency |
Client service personnel |
Ease-ofuse |
Handling of new versions / releases |
Breadth of broker algorithms |
Timeliness of updates for broker changes |
FIX capabilities |
6.61 6.45 6.68 6.47 6.21 6.46 6.36 6.55
Breadth of asset class coverage |
Breadth of direct connections to venues |
Product development |
Ease of integration to internal systems |
Overall cost of operation |
Average score |
5.80 6.36 6.20 6.12 6.18 6.34
KEY STATS Overall Outperformer : Category Outperformer : X13
6.68
Highest score ( client service personnel )
5.80
Lowest score ( breadth of asset class coverage )
+ 0.14
Most improved ( ease of use )
-0.03
Least improved ( overall cost of operation )
84 // TheTRADE // Q3 2023