Appital, a
fintech company specializing in peer-to-peer price discovery and liquidity
sourcing for asset managers, announced today (Tuesday) an expansion of its
European equity coverage through a partnership with Virtu Financial.
Appital Expands European Reach, Partners with Virtu to Boost Liquidity
The
collaboration adds Virtu’s POSIT MTF as an execution venue, increasing
Appital’s reach to more than 21,000 equities across 24 European countries.
Additionally, Virtu Financial will serve as an executing broker for client
flows negotiated on Appital’s BookBuilder platform.
This move
comes as Appital reports substantial growth, with
$13.5 billion of buy-side liquidity now available on its platform. The
company has signed up 43 asset managers representing over $20 trillion in
assets under management (AUM), with an additional 60 firms managing $30
trillion AUM in the onboarding process.
Brian
Guckian, Chief Business Development Officer at Appital, emphasized the
client-driven nature of the partnership. “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,” Guckian stated.
The
partnership builds on an existing relationship between the two firms, following
the integration of Virtu’s Triton Valor EMS with
Appital’s BookBuilder platform in April 2023.
“We aim to
help institutional clients discover quality liquidity while maintaining
anonymity and minimizing market impact. We do this by leveraging cutting-edge
technology to deliver liquidity to the global markets and innovative,
transparent trading solutions to our clients,” added Rob Boardman, CEO of Virtu
Execution Services in the EMEA. “The collaboration with Appital gives our
clients additional liquidity and price discovery functionality in a market for
size.”
The
expansion comes at a time when asset managers are increasingly seeking
efficient ways to access liquidity in less liquid stocks and execute large
orders with minimal market impact. Appital’s platform allows buy-side firms to source
cross-border liquidity in stocks ranging from large-cap to highly illiquid
small and mid-cap names, often in volumes representing multiple days of average
daily trading volume.
What’s New in Appital
Appital has
further enhanced its offerings and expanded its team. The company recently
completed integration project, linking its Insights tool with FactSet’s
Portware Execution Management System (EMS). This development allows asset
managers utilizing Portware to seamlessly access Appital Insights liquidity
directly from their familiar EMS interface, greatly improving operational
efficiency.
In
conjunction with this integration, Appital has unveiled a new feature within
Appital Insights called “Appital Trending Equities.” This functionality
empowers buy-side deal originators to proactively create unique liquidity
opportunities in the market before initiating a transaction, potentially
leading to improved execution outcomes.
The company
recently welcomed John Coules to its business development team. Coules brings a
wealth of experience to the role, having spent nearly two decades as a
pan-European equities sales trader at a major global bank, preceded by a
13-year tenure at a prominent investment bank.
This article was written by Damian Chmiel at www.financemagnates.com.
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