High-frequency trader Virtu eyes China entry

High-frequency trading firm Virtu Financial (VIRT.NASDAQ) is seeking a partner in China and looking into the possibility of trading currencies and commodities there, The Wall Street Journal reported, citing Chief Executive Officer Douglas Cifu. Singapore state investment firm Temasek Holdings, which owns about 10% of Virtu, was providing it with introductions to potential partners, Cifu said. Mainland exchanges have run mock options trading experiments with several high-frequency trading firms in the last two years, but actual options trading hasn’t been approved yet.  “It’s a great marketplace in the abstract, but obviously there are a lot of devils in the details that you have to work out,” he said.