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Regulatory Requirement | 3 Months Ended
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Mar. 31, 2019
Regulatory Capital Requirements [Abstract] |
Regulatory Requirement | Regulatory Requirement As of March 31, 2019 and December 31, 2018, U.S. broker-dealer subsidiaries of the Company are subject to the SEC Uniform Net Capital Rule 15c3-1, which requires the maintenance of minimum net capital for each of the five U.S. broker-dealers as detailed in the table below. Pursuant to NYSE rules, VAL was also required to maintain $1.15 million of capital in connection with the operation of its designated market maker (“DMM”) business as of March 31, 2019. The required amount is determined under the exchange rules as the greater of (i) $1 million or (ii) $75,000 for every 0.1% of NYSE transaction dollar volume in each of the securities for which the Company is registered as the DMM. The regulatory capital and regulatory capital requirements of the U.S broker-dealer subsidiaries as of March 31, 2019 were as follows:
(in thousands) |  | Regulatory Capital |  | Regulatory Capital Requirement |  | Excess Regulatory Capital
Virtu Americas LLC |  | $ | 333,184 |  |  | $ | 2,152 |  |  | $ | 331,032 |
Virtu Financial BD LLC |  | 111,199 |  |  | 1,000 |  |  | 110,199 |
Virtu Financial Capital Markets LLC |  | 9,277 |  |  | 1,000 |  |  | 8,277 |
Virtu ITG LLC |  | 58,270 |  |  | 1,000 |  |  | 57,270 |
Virtu Alternet Securities LLC |  | 6,267 |  |  | 100 |  |  | 6,167 |
The regulatory capital and regulatory capital requirements of the U.S. broker-dealer subsidiaries as of December 31, 2018 were as follows:
(in thousands) |  | Regulatory Capital |  | Regulatory Capital Requirement |  | Excess Regulatory Capital
Virtu Americas LLC |  | $ | 381,211 |  |  | $ | 2,035 |  |  | $ | 379,176 |
Virtu Financial BD LLC |  | 133,850 |  |  | 1,000 |  |  | 132,850 |
Virtu Financial Capital Markets LLC |  | 9,457 |  |  | 1,000 |  |  | 8,457 |
As of March 31, 2019, VAL and VITG had $2.0 million and $7.4 million, respectively, of cash in special reserve bank accounts for the benefit of customers pursuant to SEC Rule 15c3-3, Computation for Determination of Reserve Requirements, and $1.0 million and $4.4 million, respectively, of cash in reserve bank accounts for the benefit of proprietary accounts of brokers. The Company’s foreign subsidiaries are subject to regulatory capital requirements set by local regulatory bodies, including the Investment Industry Regulatory Organization of Canada (“IIROC”), the Central Bank of Ireland, the Financial Conduct Authority in the United Kingdom, the Australian Securities Exchange, the Securities and Futures Commission in Hong Kong, and the Monetary Authority of Singapore. Virtu Financial Canada ULC was admitted to membership in IIROC in March 2019. The regulatory net capital balances and regulatory capital requirements applicable to these subsidiaries as of March 31, 2019 were as follows:
(in thousands) |  | Regulatory Capital |  | Regulatory Capital Requirement |  | Excess Regulatory Capital
Canada |  |  |  |  |  |
Virtu ITG Canada Corp |  | $ | 17,870 |  |  | $ | 187 |  |  | $ | 17,683 |
TriAct Canada Marketplace LP |  | 2,028 |  |  | 187 |  |  | 1,841 |
Virtu Financial Canada ULC |  | 2,598 |  |  | 187 |  |  | 2,411 |
Ireland |  |  |  |  |  |
Virtu ITG Europe Limited |  | 53,787 |  |  | 32,768 |  |  | 21,019 |
Virtu Financial Ireland Limited |  | 78,227 |  |  | 29,919 |  |  | 48,308 |
United Kingdom |  |  |  |  |  |
Virtu ITG UK Limited |  | 1,367 |  |  | 975 |  |  | 392 |
KCG Europe Limited |  | 50,443 |  |  | 32,000 |  |  | 18,443 |
Asia Pacific |  |  |  |  |  |
Virtu ITG Australia Limited |  | 27,601 |  |  | 16,102 |  |  | 11,499 |
Virtu ITG Hong Kong Limited |  | 1,220 |  |  | 579 |  |  | 641 |
Virtu ITG Singapore Pte Limited |  | 1,015 |  |  | 74 |  |  | 941 |

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