Appital has expanded its European equity coverage to more than 21,000 equities across 24 European countries with the addition of Virtu Financial’s POSIT MTF as a European execution venue.
The firm has also added Virtu Financial as an executing broker for client flows negotiated on Appital’s BookBuilder platform, offering buy-side participants improved options for executing large orders.
Virtu Financial offers execution, liquidity sourcing, analytics, and workflow technology for institutional clients, including POSIT MTF, its dark multilateral trading facility in Europe and the UK.
This latest development follows the integration of Virtu Financial’s Triton Valor EMS with Appital’s BookBuilder platform in April last year.
“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,” said Brian Guckian, chief business development officer at Appital.
The collaborations with Virtu Financial’s POSIT MTF and its execution services complement existing integrations with Turquoise MTF and executing brokers Instinet and Bernstein, the firm said in a statement.
“We aim to help institutional clients discover quality liquidity while maintaining anonymity and minimising market impact,” said Rob Boardman, chief executive at Virtu Execution Service, EMEA.
“We do this by leveraging cutting-edge technology to deliver liquidity to the global markets and innovative, transparent trading solutions to our clients.”