Virtu Financial is weighing a sale of its agency brokerage and technology division for $3.5 billion to $4 billion, people familiar with the matter said. The preliminary discussions have not advanced to a formal sale process, and there is no confirmed timeline for whether a transaction will close. The unit was built largely through Virtu's approximately $1 billion cash acquisition of Investment Technology Group, or ITG, which closed on March 1, 2019. It provides agency execution, workflow technology and analytics to institutional clients, complementing Virtu's core electronic market-making business. Virtu expanded the technology operation in March 2025 by launching Virtu Technology Solutions, or VTS, to sell its tools to external sell-side brokers. A sale at the reported valuation would represent roughly a 3.5-to-four-times return on the original ITG purchase and could provide capital for market-making infrastructure, expansion into new asset classes, shareholder returns or future opportunities. Virtu's normalized adjusted EPS rose to $2.24 in Q1 2026 from $1.30 a year earlier. Potential buyers could include banks, alternative trading systems, larger brokerage firms and private equity investors with financial-services portfolios, as competition for institutional order flow has intensified among platforms including Instinet, Liquidnet and bank-owned businesses.