Appital and Turquoise partner to bring book building technology to buy-side

By Joy Dumasia

Appital, the Equity Capital Marketplace announced its cooperation with Turquoise, the pan-European MTF, majority-owned by London Stock Exchange Group in partnership with the user community, to unlock latent liquidity opportunities and bring further efficiency to equity capital markets. 

Appital gives the buy-side community greater exposure to deal flow opportunities they have not access before. The Appital platform unlocks latent liquidity and efficiently drives a book-building process, providing deal originators with opportunities to execute large volumes, often over five days of ADV, with minimal market impact or risk of price erosion.

Block trading has become increasingly mainstream among institutional investors seeking access to liquidity, with block trading mechanism Turquoise Plato Block Discovery reporting record volumes over the last year. 

The cooperation between Appital and Turquoise brings together complementary capabilities to the benefit of issuers and investors. Appital users will execute all deals through the Turquoise MTF via a single point of access and 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 size market at the best price.

Mark Badyra, CEO of Appital, said: “We are delighted to partner with Turquoise to provide the buy-side community with the ability to proactively source liquidity in the market and interact with like-minded institutions in the liquidity formation process. Working with a champion of innovation such as Turquoise is allowing us to realise our ambition to give institutional investors real-time visibility, full transparency and maximum control over the book building and deal distribution process.”

Dr Robert Barnes, CEO, Turquoise Global Holdings & Group Head of Securities Trading at LSEG, commented: “Turquoise is committed to serving our customers through innovation. Connecting to Appital will bring additional transparency and automation to the process of liquidity discovery. I look forward to continuing our cooperation with Appital to unlock liquidity for investors.”