EFTA00104472

Subject: Fw: Formal appeal for preliminary denial covered action 2015-016/ Knight Capital TCR & Appendix

## Well,

The Sell side got close to asking a few questions regarding the exploding balance sheet at NITE/VIRT.

When asking about capital, HOW is it possible that tangible book isn't a topic????

these "assets" to cash for its own use? WHY are failed trades booked as "assets":receivable? Just because VIRT

is self clearing does NOT mean they are legitimate "assets". More accurately: LIABILITIES

But a GREAT admission came on the earnings call by Cifu himself:

Tip toeing around the payment for orderflow issue.

In response to question by perma pumper Reppetto:

Dougie "we're not gonna publish KCG 2Q2017 financials" Cifu said:

"Like really who is NOT benefitting from that system. AND we're putting risk capital up to provide that service." "Service"???? what happens BEFORE and AFTER the retail customer gets his/her "price improvement" is the REAL question. because as ALL the Sell Siders Know: NITE/VIRT is a non profit. To f'n funny I have hard copies as usual

Virtu Financial Inc (VIRT) Q4 2020 Earnings Call Transcript | The Motley Fool

## Virtu Financial Inc (VIRT) Q4 2020 Earnings Call Transcript | The Motley Fool

Virtu Financial Inc (NASDAQ:VIRT) Q4 2020 Earnings Call Feb 11, 2021, 8:30 a.m. ET. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. Good day, and ...

www.fool.com



Cheers!

Christopher J Dilorio

Whistleblower Extraordinaire







From: Chris Dilorio <

Sent: Thursday, February 11, 2021 6:14 AM