Virtu Financial introduces notional order execution, enabling clients to specify buyback values in USD instead of share quantities.
Virtu Financial has rolled out notional order execution capabilities for 10b-18 corporate buyback programs. The new functionality allows clients to instruct trades based on a specified dollar amount rather than a fixed number of shares.
The move expands flexibility for sell-side and buy-side participants managing buyback programs, aligning execution with notional value targets. Virtu did not disclose adoption metrics or client feedback in the announcement.
No immediate market reaction was reported following the launch.