Appital

Appital Insights™ now fully integrated with FactSet’s Portware EMS

• Integration enables Portware buyside clients to access Appital Insights™ liquidity via their EMS
• New ‘Live Watchlist’ functionality allows buyside institutions to assess the viability of executing larger ADV orders without alerting the market

London, 3 April 2024: Appital, the peer-to-peer price discovery and liquidity sourcing technology for asset managers, today announced that Appital Insights™ is now fully integrated with FactSet’s Portware EMS. This enables Portware’s asset management clients to access Appital Insights™ liquidity with 1 click, via their EMS. In addition, the new ‘Live Watchlist’ functionality available within Portware EMS allows buyside institutions to assess the viability of executing larger ADV orders without alerting the market.

FactSet’s multi-asset class Portware Enterprise EMS helps the world’s largest asset managers and hedge funds navigate the challenges of complexity and scale with embedded analytics, sophisticated decision support, and state-of-the-art automation.

The addition of ‘Live Watchlists’ to Portware’s EMS follows Appital Insights™ going live in September 2023, an industry-first initiative that unlocks liquidity unavailable via traditional electronic trading venues. Appital Insights™ empowers buyside traders and PMs to gain exposure to liquidity events in relevant equities that meet their minimum ADV or pricing thresholds. What’s more, they can now be confident that they will be able to successfully execute large or illiquid equity trades before entering the market via Appital Turquoise BookBuilder™.

Appital Insights continues to gain traction, reaching $4.0bn of buyside liquidity since launch, with average orders of 2.4 days ADV and average opportunities of $XXXm notional.

Mark Badyra, CEO, Appital, said: “The integration of ‘Live Watchlists’ allows asset managers to gain exposure to and assess the viability of executing larger ADV orders without risking information leakage or price erosion. This is a new and fully developed workflow for the buyside and we see live orders of more than 25% ADV on our platform.

Asset managers expose orders to Appital Insights™ without fear of signalling to the market because there is no matching or execution at this level of platform interaction. They know that Appital Insights™ does not impact ‘on-screen’ prices.”

Data held within Appital Insights™ provides automated feedback on live positions and the likelihood of driving liquidity in any relevant name, giving traders and PMs the confidence that they will find deal contras before they proceed to launching a bookbuild.

40 asset managers with >$15trn AUM are now signed up, with 60+ more in the onboarding stage, managing an additional $30trn AUM, up from 22 asset managers in August 2023, when Appital Insights™ was first launched.

ENDS

About Appital

Appital, the equity markets technology solution, unlocks latent liquidity and provides enhanced bookbuilding capabilities to institutional investors.

Appital allows the buyside community to gain greater exposure to deal flow and execution opportunities they have not been able to access before and interact with like-minded institutions in the liquidity discovery and price formation process. Asset Managers are able to proactively source cross-border liquidity or interact with natural liquidity that is relevant to them, ranging from large cap equities to highly illiquid, small and mid-cap stocks.

The Appital platform efficiently drives a bookbuilding process, providing institutional investors with opportunities to execute large volumes, often in excess of multiple days of ADV, with minimal market impact or risk of price erosion.

Appital Insights™ allows buyside institutions to gain feedback on the likelihood to launch a successful bookbuild, without alerting anyone within the market or risking price erosion, as well as allowing traders and PMs to gain passive exposure in equities they care about when considering minimum ADV ambitions and/or pricing thresholds.

Appital’s deal distribution methodology is highly efficient, unbiased and unconflicted, delivering a fair outcome for all market participants. Members of Appital’s buyside community have access to real-time visibility, full transparency and maximum control over the bookbuilding and deal distribution process.

The Appital platform is easy to access, embedded and integrated with leading EMS providers, and executing brokers Instinet and Bernstein. Deals are executed through the Turquoise MTF, via a single point of access and with seamless straight-through processing to over 20 settlement venues. For more information please visit our website and follow us on Twitter @AppitalHQ and LinkedIn.