Virtu makes money because they take advantage of a structural setup in the market: they trade retail flow from the likes of Schwab and Robinhood.
This is vastly different than making money in the markets just by connecting to an execution venue and receiving market data.
In the former you have a clear edge over the market because you receive dumb uninformed flow. In the latter example you are left to fend for yourself and challenge the EMH purely through your math skills and insights.
This is vastly different than making money in the markets just by connecting to an execution venue and receiving market data.
In the former you have a clear edge over the market because you receive dumb uninformed flow. In the latter example you are left to fend for yourself and challenge the EMH purely through your math skills and insights.