The importance of getting dividends right
- Virtu Financial
Year of the event
Description of the case
Virtu Financial is a High-Frequency Trading house, which deploys complex algorithms to trade stocks and other assets in the US. Full of brilliant PhD, Virtu has an almost immaculate track record. Almost, as Virtu did loose money on one day between 2009 and 2014. The computers of the firm missed a special dividend, resulting in a few millions of dollars of loss.
- Missing corporate actions can have dire consequences, or at the very least tarnish one's track record.