Virtu Introduces Liquidity Scoring Tool for Fixed Income

Electronic liquidity and technology provider, Virtu Financial, has expanded its multi-asset transaction cost model offering with the launch of Fixed Income Agency Cost Estimator (FI ACE), a pre-trade analytics tool designed to provide transparency and measurement of liquidity and transaction costs in fixed income markets. FI ACE uses a proprietary pre-trade liquidity model that should help to confirm execution decision making, assist in liquidity management and help document best execution in connection with regulatory obligations. FI ACE cost estimates use Virtu’s Global Peer database for Fixed Income (GPFI) which contains aggregated proprietary trade information submitted by Virtu’s fixed income transaction cost analysis (TCA) clients. As of October 2020, FI ACE covers around 37,500 North American and 25,000 international corporate and agency bonds, 4,000 European sovereign bonds as well as around 450 US Treasury instruments.