| NEW YORK
NEW YORK Dec 18 Trading firm Virtu Financial
LLC is planning to go public and has hired Goldman Sachs
to help it with the process, two sources familiar with the
situation told Reuters.
New York-based Virtu, a market maker in equities, fixed
income, currencies and commodities markets, is planning to
submit a confidential IPO filing under the Jumpstart Our
Business Startups Act within the next couple of months, said one
of the sources.
The sources wished to remain anonymous because they are not
permitted to speak to the media.
Virtu and Goldman Sachs declined to comment.
Virtu will likely bring in other banks to help with the IPO,
but has not yet chosen them, the sources said.
Virtu has around 150 employees and offices in Europe and
Asia, as well as the United States.
The firm, which is backed by private equity firm Silver
Lake, had bid for embattled market-making firm Knight Capital
Group last year and planned to take the company private. Virtu
lost out to Getco Holding Co on the acquisition. Getco went
public upon merging with Knight and is now called KCG Holdings
The Wall Street Journal initially reported on Wednesday that
Virtu had hired Goldman Sachs for an IPO.
(Reporting by Jessica Toonkel and John McCrank in New York;
Editing by Leslie Adler)