In the Matter of Virtu Americas LLC

Virtu Americas LLC allegedly failed to take reasonable steps to establish that intermarket sweep orders (ISOs) routed by the firm to certain market centers met the requirements for ISOs. According to FINRA, the firm's automated program was not appropriately configured to send limit orders marked as ISOs for DAY ISOs transmitted to the exchanges, and in certain instances, the firm routed limit orders not marked as ISOs instead of limit orders marked as ISOs.

Summary generated from official Financial Industry Regulatory Authority press release