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Teza Technologies to sell telecoms infrastructure to Virtu Financial

First Published 29th November 2016

Firm continues to revamp itself with a focus on asset management.

Teza Technologies, which recently announced its intention to quit proprietary trading in order to become a hedge fund, is selling some of its telecoms infrastructure to Virtu Financial, a former competitor.

The terms of the transaction were not disclosed, though the assets being divested were described as "strategic".

Key personnel from Teza will move to Virtu as part of the sale.

Though the deal is subject to regulatory approval, it seems likely to be given the go-ahead given the competitive landscape in HFT.