Virtu Financial’s Triton Valor EMS integrates with Appital

Press Release
Virtu Financial’s Triton Valor EMS integrates with Appital

Virtu’s Triton Valor users will be able to access Appital’s bookbuilding platform to enhance their investment process

London, 17 April 2023 - Appital, the equity markets technology solution, today announced the integration of Virtu Financial’s Triton Execution Management System (EMS) with Appital’s bookbuilding platform - Appital Turquoise BookBuilder™.

Launched in August 2022 as the world’s first algorithmic bookbuilding platform, Appital Turquoise BookBuilder™ brings a historically highly manual and opaque process into an automated, electronic platform. Buyside clients can now 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.

The Triton Valor EMS integration will enable buy-side firms to receive Appital liquidity opportunities directly into their workflows and trading infrastructure.

Brian Guckian, Chief Development Officer of Appital, said: “We are very excited to add Virtu’s Triton Valor to our community of EMS partners. Its users are now able to originate bookbuilds and participate in price formation opportunities in a market for size that is relevant to them.”

Melissa Ellis, Head of European Workflow Sales, at Virtu Financial, said: “Our clients are always looking for new and innovative ways to seek out liquidity. 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 bookbuilding process, adding value to their overall investment processes.”

Eric Heleine, Head of trading desk and overlay management at Groupama Asset Management, added: “As a Triton EMS user, I have been closely involved in the Appital integration process. I have seen first hand how asset managers are now able to take control over their bookbuilding process and access liquidity in a market for size, without the risk of price erosion. Appital’s bookbuilding platform is a much needed innovation that will benefit the asset management community, helping them gain exposure to deal flow opportunities they have not been able to access before.”

The first firms that will be able to access Appital’s bookbuilding platform via Triton Valor EMS include Morgan Stanley Investment Management; Unigestion SA; Principal Financial Group; Groupama Asset Management and BBVA Asset Management.

Institutions managing $4.3trillion AUM are already connected to the Appital platform. $110m worth of bookbuilds have been originated across UK and Swiss equities since launch, with an average deal size of 2.3 days ADV.

In addition, Appital is onboarding buyside institutions representing a further $25trillion in AUM and is proactively engaging with global, regional and specialist asset managers to increase the depth of available liquidity opportunities within the platform.

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