Doug Cifu, co-founder and CEO of electronic trading firm Virtu Financial, said his company is ready for all contingencies in light of Wednesday’s looming Fed decision.
“Obviously, this is something that folks are anticipating. We’re getting ready for it,” he said. “We’ll be there with capital. We’ll be there with our risk controls. All the things ready to rock and roll tomorrow and so it will hopefully be a good day for us in the market.”
Cifu said he’s also expecting high levels of volume and volatility on Wednesday, two factors that are good for Virtu.
“One of the things we do really well is transfer risks from buyers to sellers and obviously there’s going to be a lot of trading tomorrow,” he told CNBC’s “Fast Money: Halftime Report” on Tuesday. “I think that we’ll have a lot of volume tomorrow, which is a good thing for our firm, and a lot of volatility.”
Cifu said he thinks this volume will be driven by conclusions drawn from the Fed’s nuanced guidance and that Virtu will be focused on bonds as a way of interpreting that guidance.
“We’re going to focus on the two-year. It’s one of the signals we like to look at,” Cifu said. “It will be interesting to see where people’s sentiment is as a result of that.”
Virtu Financial Executive Chairman Vinnie Viola joined Cifu on CNBC’s “Fast Money: Halftime Report” on Tuesday. He spoke broadly about jobs for veterans, the impact of oil on markets and the market structure itself.