Virtu Financial’s Triton Execution Management System (EMS) has integrated Appital’s book-building platform – Appital Turquoise BookBuilder, which was launched in August 2022.
The integration will enable buy side firms using Triton Valor to receive Appital liquidity opportunities directly into their workflows and trading infrastructure.
Appital Turquoise BookBuilder brings a historically highly manual and opaque process into an automated, electronic platform.
Buy side clients can gain greater exposure to previously inaccessible, cross-border deal flow opportunities and interact with like-minded institutions in the liquidity discovery and price formation process.
Morgan Stanley Investment Management, Unigestion, Principal Financial Group, Groupama Asset Management, and BBVA Asset Management will be the first set of companies to access Appital’s book-building platform via Triton Valor EMS.
“Our clients are always looking for new and innovative ways to seek out liquidity,” said Melissa Ellis, head of European workflow sales at Virtu Financial.
She adds, “Appital allows them to interact with like-minded institutions in a market for size. By integrating with Appital, asset managers are now able to access liquidity that would otherwise be latent and initiate a book building process, adding value to their overall investment processes.”
To date, institutions managing $4.3 trillion AUM are already connected to the Appital platform.
The company said $110m worth of bookbuilds have been originated across UK and Swiss equities since launch, with an average deal size of 2.3 days average daily volume (ADV).
In addition, Appital is onboarding buy side institutions representing a further $25t rillion in AUM and is proactively engaging with global, regional and specialist asset managers to increase the depth of available liquidity opportunities within the platform.
©Markets Media Europe 2023
