Appital, the peer-to-peer price discovery and liquidity sourcing technology for asset managers, has added Virtu Financial’s POSIT MTF as an European execution venue, expanding Appital’s European equity coverage to more than 21,000 equities across 24 European countries.
Virtu Financial is also now an executing broker for client flows negotiated on Appital’s BookBuilder platform, offering the buy side community enhanced options for executing large orders.
Brian Guckian, chief business development officer at Appital, said: “Our collaboration with Virtu Financial was driven by client demand and provides asset managers with price discovery and execution capabilities in outsized equity positions, within a seamless workflow.
“To date, Appital has reached US$13.5 billion of buy side liquidity on its platform, with opportunities between US$1 million and US$260 million. 43 asset managers with more than US$20 trillion AUM are now signed up, with 60+ more in the onboarding stage, managing an additional US$30 trillion AUM.”
Rob Boardman, CEO of Virtu Execution Services, EMEA, said the collaboration with Appital gives clients additional liquidity and price discovery functionality in a market for size. The collaborations with Virtu Financial’s POSIT MTF and its Execution Services complement existing integrations with Turquoise MTF and executing brokers Instinet and Bernstein.
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