Virtu Financial delays float plan after high speed trading furore

HIGH-frequency trading firm Virtu Financial is reportedly set to delay plans to float, following the renewed public interest in the high-speed transaction method.

This week, it was revealed that the Federal Bureau of Investigation (FBI) is looking into high-speed trading, with spokesmen suggesting that the method could breach insider trading laws.

A newly released book by financial journalist Michael Lewis, who opposes the practice, has also been in the headlines this week, nudging Virtu to reconsider the timing of their initial public offering, according to the New York Times.

Early last month, the firm revealed its intention to float to US regulators, with plans to raise up to $100m (£60.1m). The company made a net profit of $182.2m last year, and has only made a loss on one day of trading between 2009 and 2013.