April 17 High-speed trading firm Virtu Financial
Inc has indefinitely postponed its initial public offering
plans, the Wall Street Journal reported, citing people familiar
with the matter.
The move comes as high-frequency trading (HFT) is under
intense scrutiny, following the release of author Michael Lewis'
book "Flash Boys: A Wall Street Revolt".
Virtu's IPO, which was expected in April, was seeking to
raise about $200 million to $250 million, valuing the firm at
about $3 billion.
Reuters reported earlier this month that Virtu delayed the
launch of its IPO as it awaited regulatory approval, which was
expected within days rather than weeks.
Virtu, one of the biggest U.S. HFT firms, is active in
making markets on IEX, taking the other side of trades to ensure
the market stays liquid.
(Reporting by Avik Das in Bangalore; Editing by Sriraj