High frequency trading firm Virtu paid European staff £218k each
Electronic trading is typically associated with the bombastic pay at Jane Street and Citadel Securities. However, mere high frequency trading firms aren't as lucrative. Virtu Europe Trading Limited, the European subsidiary of trading house Virtu, pays well but not as much as the top payers in the industry.
Just released accounts for 2022 show that Virtu Europe Trading had an average of 113 employees in 2022, up from 110 in 2021 Its spending on "wages and salaries" averaged out at £218.4k per head, up from £216.9k the year prior.
Directors at Virtu's European arm were more handsomely rewarded. Their average wages rose from £377k to £400.5k. Even so, three directors left midyear and three others replaced them, with the global firm's COO Joe Molluso taking up a director role in mid-May.
Virtu's European contingent can take some solace in that they're paid above the company's usual standard. Virtu's 2022 global results revealed that its approximately 993 employees worldwide were paid an average of $251k (£212.7k) last year.
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