Virtus launches loan trade settlement

Virtus, a provider of tailored fixed-income services, says it has launched Virtus Trade Settlement (VTS) following on the the acquisition of Trade Settlement Inc. It says that VTS delivers unprecedented settlement times for primary/secondary trades in the four trillion dollar loan market.

Virtus says it is launching VTS to meet what it labels a dramatic need in the market for efficient loan trade settlements, most evidently shown through the reduction of settlement times. It says that VTS represents the powerful combination of its advanced technology and TSI’s unique loan settlement capabilities.

Through this new synergy, VTS provides market participants with unprecedented settlement times through speed and efficiency in settling primary/secondary trades. VTS is a comprehensive solution for all market participants, delivering substantial ROI to sell-side firms and offered as a complimentary service to the buy-side. The new VTS platform features a streamlined, intuitive interface and tight integration with the overall Virtus platform for enhanced straight-through-processing.

“Agent banks, originators and other market participants historically have not had a choice when it comes to loan settlements,” comments Rob Tomicic, partner and co-founder of Virtus Partners. “Virtus Trade Settlement is breaking new ground by providing the advanced settlement capabilities and speeds that participants have been actively searching for.”