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Subsequent Events
9 Months Ended
Sep. 30, 2017
Subsequent Events.  
Subsequent Events

19. Subsequent Events

The Company has evaluated subsequent events for adjustment to or disclosure in its condensed consolidated financial statements through the date of the report, and has not identified any recordable or disclosable events, not otherwise reported in these condensed consolidated financial statements or the notes thereto, except for the following: 

On October 24, 2017, Virtu Financial entered into an Asset Purchase Agreement with Intercontinental Exchange, Inc. ("ICE") pursuant to which Virtu Financial agreed to sell specified assets and assign specified liabilities constituting the Company's BondPoint division and fixed income venue ("BondPoint").  BondPoint is a provider of electronic fixed income trading solutions for the buy-side and sell-side offering access to centralized liquidity and automated trade execution services.  The purchase price payable by ICE for BondPoint as the closing of the transaction is $400.0 million in cash, subject to a customary adjustment for working capital of BondPoint.  The consummation of the transaction is subject to the satisfaction of customary closing conditions and receipt of certain regulatory clearances, including from the Financial Industry Regulatory Authority, Inc., and the Municipal Securities Rulemaking Board and the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. 

On October 24, 2017, Joseph J. Grano Jr. was appointed as a Class II director of the Board of Directors of the Company.

On November 3, 2017, a subsidiary of the Company entered into a definitive agreement to sell select infrastructure and telecommunications assets for a purchase price of $4.2 million in cash subject to a customary adjustment for working capital. The consummation of the transaction is subject to customary closing conditions including applicable regulatory approvals.

On November 4, 2017, the Company’s broker dealer subsidiaries entered into a committed broker dealer revolving credit facility (the “Broker Dealer Revolving Facility”) with a syndicate of lenders with a total aggregate committed amount of $500.0 million, subject to two borrowing bases, the proceeds of which may be used to finance the purchase and settlement of securities and to fund certain clearing deposits.  The Broker Dealer Revolving Facility is fully and unconditionally guaranteed by Virtu Financial and certain other affiliates and is secured by pledges of eligible securities and deposits.

The Company’s Board of Directors declared a dividend of $0.24 per share of Class A common stock and Class B common stock and restricted stock unit on November 7, 2017, payable on December 15, 2017 to holders of record as of the close of business on December 1, 2017.