Virtu Financial Launches Notional Order Execution for Buybacks

Product / Tech

โดย Zacks Investment Research·

Summary · why it matters

Virtu Financial has launched new notional order execution capabilities for 10b-18 corporate buyback programs, allowing clients to specify purchases by dollar value instead of a fixed number of shares. The feature can calculate trading value with or without commission, helping issuers and broker-dealers manage the exact amount allocated to repurchases. Virtu supports notional instructions across VWAP/TWAP, POV, FAN Aggressive and Passive, and Covert Aggressive algorithms, and says only a handful of financial companies offer this capability. Truist Bank is among Virtu's sell-side partners using the new offering, with its internal analysis showing Virtu's notional execution beating a competing provider on both benchmark performance and total notional value executed. The company generated $360.6 million in Execution Services revenues in the first half of 2026, up 1.4% year over year, and higher adoption could increase volumes and revenues without a comparable increase in overhead.