Appital, the Equity Capital Marketplace, announced its cooperation with Turquoise, the pan-European MTF (multi-lateral trading facility), majority owned by London Stock Exchange Group in partnership with the user community, which aims to improve liquidity and efficiency in equity capital markets.
Block trading mechanism Turquoise Plato Block Discovery reported record volumes over the last year, and the market for size has become mainstream with over €135 billion total value traded last year. The demand for block trading with more efficient workflows for liquidity events continues. Appital scales this continuum of liquidity discovery for even larger size.
The Appital platform provides deal originators with opportunities to execute large volumes, often in excess of 5 days of ADV (Turquoise Block Discovery trades approx 2 days ADV), with minimal market impact or risk of price erosion. At the same time, the platform enables deal participants to highlight the types and sizes of opportunities they are looking for, specifying market, sector, market cap and size of interest.
Appital users will be able to execute all deals through the Turquoise MTF, via a single point of access and with seamless straight-through-processing (STP) to over 20 settlement venues. Additionally, institutional investors will be able to take advantage of an innovative and efficient way to access liquidity opportunities and trade in a market for size, at the best price.
Robert Barnes, CEO, Turquoise Global Holdings and group head of Securities Trading at LSEG, said in a statement: “Connecting to Appital will bring additional transparency and automation to the process of liquidity discovery.”
Brian Guckian, chief business development officer at Appital, said in a statement: “The combination of Appital and Turquoise is a true evolution of the market and provides a venue for the buy-side to drive liquidity and efficiently trade the full spectrum of trade sizes.”
Appital is actively building out its platform and technology infrastructure with buy-side firms and vendors for a launch later this year.