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Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
PAY VERSUS PERFORMANCE
The following table presents information required by Item 402(v) of Regulation S-K. For information regarding the Company’s pay-for-performance philosophy and how the Company aligns executive compensation with the Company’s performance, please refer above to “Executive Compensation — Compensation Discussion and Analysis.”
Year
​ ​
Summary
Compensation
Table Total for
CEO(1)
​ ​
Compensation
Actually Paid to
CEO(3)
​ ​
Average
Summary
Compensation
Table Total for
non-CEO Named
Executive
Officers(2)
​ ​
Average
Compensation
Actually Paid to
non-CEO
Named Executive
Officers(4)
​ ​
Value of Initial Fixed $100
Investment Based On:(5)
​ ​
Net Income
​ ​
Adjusted EBITDA
(Company – Selected
Measure)(7)
​
​
Total
Shareholder
Return
​ ​
Peer Group
Total
Shareholder
Return(6)
​
2023 ​ ​ ​ ​ 8,251,865 ​ ​ ​ ​ ​ 9,129,803 ​ ​ ​ ​ ​ 3,269,016 ​ ​ ​ ​ ​ 3,564,802 ​ ​ ​ ​ $ 132.35 ​ ​ ​ ​ $ 191.92 ​ ​ ​ ​ $ 263,921 ​ ​ ​ ​ $ 567,767 ​ ​
2022 ​ ​ ​ ​ 12,052,261 ​ ​ ​ ​ ​ 8,565,816 ​ ​ ​ ​ ​ 3,452,212 ​ ​ ​ ​ ​ 1,959,138 ​ ​ ​ ​ $ 133.33 ​ ​ ​ ​ $ 154.67 ​ ​ ​ ​ $ 468,332 ​ ​ ​ ​ $ 859,123 ​ ​
2021 ​ ​ ​ ​ 10,107,261 ​ ​ ​ ​ ​ 14,939,149 ​ ​ ​ ​ ​ 3,309,375 ​ ​ ​ ​ ​ 3,033,721 ​ ​ ​ ​ $ 188.33 ​ ​ ​ ​ $ 167.66 ​ ​ ​ ​ $ 827,234 ​ ​ ​ ​ $ 1,301,233 ​ ​
2020 ​ ​ ​ ​ 12,263,795 ​ ​ ​ ​ ​ 10,840,019 ​ ​ ​ ​ ​ 4,152,733 ​ ​ ​ ​ ​ 5,679,546 ​ ​ ​ ​ $ 164.42 ​ ​ ​ ​ $ 130.03 ​ ​ ​ ​ $ 1,120,913 ​ ​ ​ ​ $ 1,648,049 ​ ​
​
(1)
Mr. Cifu was our CEO for each of the years presented.
​
(2)
Our non-CEO NEOs consisted of Messrs. Molluso, Fairclough, Cavoli, and Galvin for each of the years presented, as well as Mr. Alex Ioffe for fiscal year 2020.
​
(3)
Compensation “actually paid” is calculated in accordance with Item 402(v) of Regulation S-K. The table below set forth each adjustment made during each year presented in the table to calculate the compensation “actually paid” to our CEO during each year in the table:
​
CEO
​ ​
2023
(Mr. Cifu)
​ ​
2022
(Mr. Cifu)
​ ​
2021
(Mr. Cifu)
​ ​
2020
(Mr. Cifu)
​
Summary Compensation Table Total
​ ​ ​ ​ 8,251,865 ​ ​ ​ ​ ​ 12,052,261 ​ ​ ​ ​ ​ 10,107,261 ​ ​ ​ ​ ​ 12,263,795 ​ ​
Less, value of “Stock Awards”, as reported in Summary Compensation Table
​ ​ ​ ​ (4,974,000) ​ ​ ​ ​ ​ (7,889,500) ​ ​ ​ ​ ​ (6,590,500) ​ ​ ​ ​ ​ (8,759,525) ​ ​
Plus, year-end fair value of outstanding and unvested awards granted in the year
​ ​ ​ ​ 4,604,182 ​ ​ ​ ​ ​ 4,057,161 ​ ​ ​ ​ ​ 3,706,982 ​ ​ ​ ​ ​ 3,914,514 ​ ​
Plus, fair value as of vesting date of equity awards granted and vested in the year
​ ​ ​ ​ 999,677 ​ ​ ​ ​ ​ 1,009,158 ​ ​ ​ ​ ​ 6,914,549 ​ ​ ​ ​ ​ 2,699,019 ​ ​
Plus (less), year over year change in fair value of outstanding and unvested equity awards granted in prior years
​ ​ ​ ​ (7,591) ​ ​ ​ ​ ​ (371,530) ​ ​ ​ ​ ​ 251,656 ​ ​ ​ ​ ​ 478,168 ​ ​
Plus (less), year over year change in fair value of equity awards granted in prior years that vested in the year
​ ​ ​ ​ (127,421) ​ ​ ​ ​ ​ (597,694) ​ ​ ​ ​ ​ 229,648 ​ ​ ​ ​ ​ (27,258) ​ ​
Plus, dividends or other earnings paid during covered year, prior to vesting date of award
​ ​ ​ ​ 383,092 ​ ​ ​ ​ ​ 305,960 ​ ​ ​ ​ ​ 319,551 ​ ​ ​ ​ ​ 271,307 ​ ​
Compensation “Actually Paid” to CEO
​ ​ ​ ​ 9,129,803 ​ ​ ​ ​ ​ 8,565,816 ​ ​ ​ ​ ​ 14,939,149 ​ ​ ​ ​ ​ 10,840,019 ​ ​
​
(4)
Compensation “actually paid” is calculated in accordance with Item 402(v) of Regulation S-K. The table below set forth each adjustment made during each year presented in the table to calculate the average compensation “actually paid” to our non-CEO NEO’s during each year in the table:
​
Non-CEO NEOs
​ ​
2023
​ ​
2022
​ ​
2021
​ ​
2020
​
Summary Compensation Table Total
​ ​ ​ ​ 3,269,016 ​ ​ ​ ​ ​ 3,452,212 ​ ​ ​ ​ ​ 3,309,375 ​ ​ ​ ​ ​ 4,152,733 ​ ​
Less, value of “Stock Awards”, as reported in Summary Compensation Table
​ ​ ​ ​ (1,841,807) ​ ​ ​ ​ ​ (2,032,213) ​ ​ ​ ​ ​ (1,786,875) ​ ​ ​ ​ ​ (2,331,500) ​ ​
Plus, year-end fair value of outstanding and unvested awards granted in the year
​ ​ ​ ​ 1,717,954 ​ ​ ​ ​ ​ 638,834 ​ ​ ​ ​ ​ 563,080 ​ ​ ​ ​ ​ 2,912,547 ​ ​
Plus, fair value as of vesting date of equity awards granted
and vested in the year
​ ​ ​ ​ 369,392 ​ ​ ​ ​ ​ 414,794 ​ ​ ​ ​ ​ 385,950 ​ ​ ​ ​ ​ 883,726 ​ ​
Plus (less), year over year change in fair value of outstanding and unvested equity awards granted in prior years
​ ​ ​ ​ (4,106) ​ ​ ​ ​ ​ (620,849) ​ ​ ​ ​ ​ 307,181 ​ ​ ​ ​ ​ 24,861 ​ ​
Plus (less), year over year change in fair value of equity awards granted in prior years that vested in the year
​ ​ ​ ​ (56,921) ​ ​ ​ ​ ​ 4,997 ​ ​ ​ ​ ​ 117,898 ​ ​ ​ ​ ​ 224,850 ​ ​
Less, fair value of awards granted prior to covered year that were forfeited during covered year
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (315,799) ​ ​
Plus, dividends or other earnings paid during covered year,
prior to vesting date of award
​ ​ ​ ​ 111,276 ​ ​ ​ ​ ​ 101,362 ​ ​ ​ ​ ​ 137,112 ​ ​ ​ ​ ​ 128,129 ​ ​
Average Compensation “Actually Paid” to Non-CEO NEOs
​ ​ ​ ​ 3,564,802 ​ ​ ​ ​ ​ 1,959,138 ​ ​ ​ ​ ​ 3,033,721 ​ ​ ​ ​ ​ 5,679,546 ​ ​
​
(5)
Assumes $100 was invested in our Class A Common Stock on December 31, 2019, and that dividends were reinvested on the date of payment without payment of any commissions or consideration of income taxes.
​
(6)
The peer group indices used by the Company consists of the NYSE Arca Securities Broker/Dealer Index. The calculation assumes $100 was invested in our Class A Common Stock on December 31, 2019, and that dividends were reinvested on the date of payment without payment of any commissions or consideration of income taxes.
​
(7)
“EBITDA” and “Adjusted EBITDA” are non-GAAP financial measures of financial performance. “EBITDA” measures our operating performance by adjusting net income to exclude Financing interest expense on long-term borrowings, Debt issue cost related to debt refinancing, prepayment, and commitment fees, Depreciation and amortization, Amortization of purchased intangibles and acquired capitalized software, and Income tax expense, and “Adjusted EBITDA” measures our operating performance by further adjusting EBITDA to exclude severance, transaction advisory fees and expenses, termination of office leases, charges related to share-based compensation and other expenses, which
​
includes reserves for legal matters, COVID-19 one-time costs and donations and Other, net, which includes gains and losses from strategic investments and the sales of businesses. Reconciliations of Net Income to EBITDA and Adjusted EBITDA are available at https://ir.virtu.com/financials-and-filings/quarterly-results/default.aspx.
     
Company Selected Measure Name Adjusted EBITDA      
Named Executive Officers, Footnote
(1)
Mr. Cifu was our CEO for each of the years presented.
(2)
Our non-CEO NEOs consisted of Messrs. Molluso, Fairclough, Cavoli, and Galvin for each of the years presented, as well as Mr. Alex Ioffe for fiscal year 2020.
     
Peer Group Issuers, Footnote
(6)
The peer group indices used by the Company consists of the NYSE Arca Securities Broker/Dealer Index. The calculation assumes $100 was invested in our Class A Common Stock on December 31, 2019, and that dividends were reinvested on the date of payment without payment of any commissions or consideration of income taxes 		     
PEO Total Compensation Amount $ 8,251,865 $ 12,052,261 $ 10,107,261 $ 12,263,795
PEO Actually Paid Compensation Amount $ 9,129,803 8,565,816 14,939,149 10,840,019
Adjustment To PEO Compensation, Footnote
(3)
Compensation “actually paid” is calculated in accordance with Item 402(v) of Regulation S-K. The table below set forth each adjustment made during each year presented in the table to calculate the compensation “actually paid” to our CEO during each year in the table:
​
CEO
​ ​
2023
(Mr. Cifu)
​ ​
2022
(Mr. Cifu)
​ ​
2021
(Mr. Cifu)
​ ​
2020
(Mr. Cifu)
​
Summary Compensation Table Total
​ ​ ​ ​ 8,251,865 ​ ​ ​ ​ ​ 12,052,261 ​ ​ ​ ​ ​ 10,107,261 ​ ​ ​ ​ ​ 12,263,795 ​ ​
Less, value of “Stock Awards”, as reported in Summary Compensation Table
​ ​ ​ ​ (4,974,000) ​ ​ ​ ​ ​ (7,889,500) ​ ​ ​ ​ ​ (6,590,500) ​ ​ ​ ​ ​ (8,759,525) ​ ​
Plus, year-end fair value of outstanding and unvested awards granted in the year
​ ​ ​ ​ 4,604,182 ​ ​ ​ ​ ​ 4,057,161 ​ ​ ​ ​ ​ 3,706,982 ​ ​ ​ ​ ​ 3,914,514 ​ ​
Plus, fair value as of vesting date of equity awards granted and vested in the year
​ ​ ​ ​ 999,677 ​ ​ ​ ​ ​ 1,009,158 ​ ​ ​ ​ ​ 6,914,549 ​ ​ ​ ​ ​ 2,699,019 ​ ​
Plus (less), year over year change in fair value of outstanding and unvested equity awards granted in prior years
​ ​ ​ ​ (7,591) ​ ​ ​ ​ ​ (371,530) ​ ​ ​ ​ ​ 251,656 ​ ​ ​ ​ ​ 478,168 ​ ​
Plus (less), year over year change in fair value of equity awards granted in prior years that vested in the year
​ ​ ​ ​ (127,421) ​ ​ ​ ​ ​ (597,694) ​ ​ ​ ​ ​ 229,648 ​ ​ ​ ​ ​ (27,258) ​ ​
Plus, dividends or other earnings paid during covered year, prior to vesting date of award
​ ​ ​ ​ 383,092 ​ ​ ​ ​ ​ 305,960 ​ ​ ​ ​ ​ 319,551 ​ ​ ​ ​ ​ 271,307 ​ ​
Compensation “Actually Paid” to CEO
​ ​ ​ ​ 9,129,803 ​ ​ ​ ​ ​ 8,565,816 ​ ​ ​ ​ ​ 14,939,149 ​ ​ ​ ​ ​ 10,840,019 ​ ​
     
Non-PEO NEO Average Total Compensation Amount $ 3,269,016 3,452,212 3,309,375 4,152,733
Non-PEO NEO Average Compensation Actually Paid Amount $ 3,564,802 1,959,138 3,033,721 5,679,546
Adjustment to Non-PEO NEO Compensation Footnote
(4)
Compensation “actually paid” is calculated in accordance with Item 402(v) of Regulation S-K. The table below set forth each adjustment made during each year presented in the table to calculate the average compensation “actually paid” to our non-CEO NEO’s during each year in the table:
​
Non-CEO NEOs
​ ​
2023
​ ​
2022
​ ​
2021
​ ​
2020
​
Summary Compensation Table Total
​ ​ ​ ​ 3,269,016 ​ ​ ​ ​ ​ 3,452,212 ​ ​ ​ ​ ​ 3,309,375 ​ ​ ​ ​ ​ 4,152,733 ​ ​
Less, value of “Stock Awards”, as reported in Summary Compensation Table
​ ​ ​ ​ (1,841,807) ​ ​ ​ ​ ​ (2,032,213) ​ ​ ​ ​ ​ (1,786,875) ​ ​ ​ ​ ​ (2,331,500) ​ ​
Plus, year-end fair value of outstanding and unvested awards granted in the year
​ ​ ​ ​ 1,717,954 ​ ​ ​ ​ ​ 638,834 ​ ​ ​ ​ ​ 563,080 ​ ​ ​ ​ ​ 2,912,547 ​ ​
Plus, fair value as of vesting date of equity awards granted
and vested in the year
​ ​ ​ ​ 369,392 ​ ​ ​ ​ ​ 414,794 ​ ​ ​ ​ ​ 385,950 ​ ​ ​ ​ ​ 883,726 ​ ​
Plus (less), year over year change in fair value of outstanding and unvested equity awards granted in prior years
​ ​ ​ ​ (4,106) ​ ​ ​ ​ ​ (620,849) ​ ​ ​ ​ ​ 307,181 ​ ​ ​ ​ ​ 24,861 ​ ​
Plus (less), year over year change in fair value of equity awards granted in prior years that vested in the year
​ ​ ​ ​ (56,921) ​ ​ ​ ​ ​ 4,997 ​ ​ ​ ​ ​ 117,898 ​ ​ ​ ​ ​ 224,850 ​ ​
Less, fair value of awards granted prior to covered year that were forfeited during covered year
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ — ​ ​ ​ ​ ​ (315,799) ​ ​
Plus, dividends or other earnings paid during covered year,
prior to vesting date of award
​ ​ ​ ​ 111,276 ​ ​ ​ ​ ​ 101,362 ​ ​ ​ ​ ​ 137,112 ​ ​ ​ ​ ​ 128,129 ​ ​
Average Compensation “Actually Paid” to Non-CEO NEOs
​ ​ ​ ​ 3,564,802 ​ ​ ​ ​ ​ 1,959,138 ​ ​ ​ ​ ​ 3,033,721 ​ ​ ​ ​ ​ 5,679,546 ​ ​
     
Compensation Actually Paid vs. Total Shareholder Return
CAP versus Total Shareholder Return
The chart below shows the relationship between the CEO and other NEOs’ CAP amounts and the Company’s TSR. This is primarily due to the Company’s use of annual and long-term equity incentives, the value of which are tied directly to stock price performance and the Company’s financial performance.
[MISSING IMAGE: bc_capvsttlshr-4c.jpg]
     
Compensation Actually Paid vs. Net Income
CAP versus Annual Net Income
The chart below shows the relationship between the CEO and other NEOs’ CAP amounts and the Company’s Net Income. This is primarily due to the Company’s use of quantitative financial performance metrics in determining annual bonus compensation of its named executive officers.
[MISSING IMAGE: bc_capvsnetinc-4c.jpg]
     
Compensation Actually Paid vs. Company Selected Measure
CAP versus Annual Adjusted EBITDA
The chart below shows the relationship between the CEO and other NEOs’ CAP amounts and the Company’s Adjusted EBITDA. This is primarily due to the Company’s use of quantitative financial performance metrics in determining annual bonus compensation of its named executive officers.
[MISSING IMAGE: bc_capvsadjust-4c.jpg]
     
Total Shareholder Return Vs Peer Group
CAP versus Total Shareholder Return
The chart below shows the relationship between the CEO and other NEOs’ CAP amounts and the Company’s TSR. This is primarily due to the Company’s use of annual and long-term equity incentives, the value of which are tied directly to stock price performance and the Company’s financial performance.
[MISSING IMAGE: bc_capvsttlshr-4c.jpg]
     
Tabular List, Table
Most Important Financial Performance Measures
The following provides a list of the financial performance measures that we believe are the most important financial performance measures used to link the compensation awarded to our named executive officers to the Company’s performance. For more information, please see the “Executive Compensation — Compensation Discussion and Analysis” section above.
1.
Annual Adjusted EBITDA
​
2.
Adjusted Net Trading Income
​
3.
Adjusted Net Trading Income from Growth Initiatives
​
4.
Adjusted Operating Expenses
     
Total Shareholder Return Amount $ 132.35 133.33 188.33 164.42
Peer Group Total Shareholder Return Amount 191.92 154.67 167.66 130.03
Net Income (Loss) $ 263,921 $ 468,332 $ 827,234 $ 1,120,913
Company Selected Measure Amount 567,767 859,123 1,301,233 1,648,049
PEO Name Mr. Cifu      
Measure:: 1        
Pay vs Performance Disclosure        
Name Annual Adjusted EBITDA      
Non-GAAP Measure Description
(7)
“EBITDA” and “Adjusted EBITDA” are non-GAAP financial measures of financial performance. “EBITDA” measures our operating performance by adjusting net income to exclude Financing interest expense on long-term borrowings, Debt issue cost related to debt refinancing, prepayment, and commitment fees, Depreciation and amortization, Amortization of purchased intangibles and acquired capitalized software, and Income tax expense, and “Adjusted EBITDA” measures our operating performance by further adjusting EBITDA to exclude severance, transaction advisory fees and expenses, termination of office leases, charges related to share-based compensation and other expenses, which
​
includes reserves for legal matters, COVID-19 one-time costs and donations and Other, net, which includes gains and losses from strategic investments and the sales of businesses. Reconciliations of Net Income to EBITDA and Adjusted EBITDA are available at https://ir.virtu.com/financials-and-filings/quarterly-results/default.aspx.
     
Measure:: 2        
Pay vs Performance Disclosure        
Name Adjusted Net Trading Income      
Measure:: 3        
Pay vs Performance Disclosure        
Name Adjusted Net Trading Income from Growth Initiatives      
Measure:: 4        
Pay vs Performance Disclosure        
Name Adjusted Operating Expenses      
PEO | Mr. Cifu [Member] | Value of “Stock Awards”, as reported in Summary Compensation Table        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (4,974,000) $ (7,889,500) $ (6,590,500) $ (8,759,525)
PEO | Mr. Cifu [Member] | Year-end fair value of outstanding and unvested awards granted in the year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 4,604,182 4,057,161 3,706,982 3,914,514
PEO | Mr. Cifu [Member] | Fair value as of vesting date of equity awards granted and vested in the year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 999,677 1,009,158 6,914,549 2,699,019
PEO | Mr. Cifu [Member] | Year over year change in fair value of outstanding and unvested equity awards granted in prior years        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (7,591) (371,530) 251,656 478,168
PEO | Mr. Cifu [Member] | Year over year change in fair value of equity awards granted in prior years that vested in the year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (127,421) (597,694) 229,648 (27,258)
PEO | Mr. Cifu [Member] | Dividends or other earnings paid during covered year, prior to vesting date of award        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 383,092 305,960 319,551 271,307
Non-PEO NEO | Value of “Stock Awards”, as reported in Summary Compensation Table        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (1,841,807) (2,032,213) (1,786,875) (2,331,500)
Non-PEO NEO | Year-end fair value of outstanding and unvested awards granted in the year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,717,954 638,834 563,080 2,912,547
Non-PEO NEO | Fair value as of vesting date of equity awards granted and vested in the year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 369,392 414,794 385,950 883,726
Non-PEO NEO | Year over year change in fair value of outstanding and unvested equity awards granted in prior years        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (4,106) (620,849) 307,181 24,861
Non-PEO NEO | Year over year change in fair value of equity awards granted in prior years that vested in the year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (56,921) 4,997 117,898 224,850
Non-PEO NEO | Dividends or other earnings paid during covered year, prior to vesting date of award        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 111,276 101,362 137,112 128,129
Non-PEO NEO | Fair Value of Awards Granted Prior to Covered Year That Were Forfeited During Covered Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   $ (315,799)