Blackrock-backed firm records shocking surge in revenue originally appeared on TheStreet .

On July 30, U.S.-based high-frequency trading company Virtu Financial, Inc. (NYSE: VIRT), announced a significant 44.2% increase in its total earnings for Q2 , reaching $999.6 million. This marks a substantial rise from its $693.0 million total valuation during the same period last year.

The New York-headquartered company has two key operating segments, Market Making - which allows its users to engage with cash, cryptocurrencies, futures, and options markets across global equities, fixed income, currencies, and commodities; and Execution Services - that includes capital markets solutions, agency trading, and analytics.

Shares of the BlackRock-backed company quickly rose 3.4% following the announcement, as investors cheered the company's solid earnings report and bullish outlook.

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Legal issues loom large as Virtu rejigs internal positions

This week has proven to be a significant one for Virtu's operations. Earlier on Wednesday, Douglas Cifu stepped down from the role of the company CEO after having co-founded the company back in 2008. Despite stepping into retirement from his service, Cifu will continue to be an advisor to the company. 

Aaron Simons, who has been serving as the firm's chief technology officer (CTO) since 2008 – has been named the new CEO, to take charge of Cifu's responsibilities.

Amid this ongoing internal changes at Virtu, a legal challenge seems to be taking shape against the company.

Shareholder litigation law firm Kuehn Law, in an official statement  has claimed that it is initiating a probe on certain Virtu officers for an alleged breach of their fiduciary duties to shareholders. The company is yet to respond to these allegations.

Blackrock-backed firm records shocking surge in revenue first appeared on TheStreet on Jul 30, 2025

This story was originally reported by TheStreet on Jul 30, 2025, where it first appeared.