Virtu Financial’s Triton Valor EMS integrates with Appital

Appital, the technology solution for the equity markets, today announced the integration of Virtu Financial’s Triton Execution Management System (EMS) with Appital’s book building platform – Appital Turquoise BookBuilder™.

Launched in August 2022, Appital Turquoise BookBuilder™ is the world’s first algorithmic book building platform, bringing a historically highly manual and opaque process into an automated, electronic platform. Buyside clients can now gain greater exposure to previously unavailable cross-border deal flow opportunities and interact with like-minded institutions in the process of liquidity discovery and price formation.

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

Brian Guckian, Head of Development at Appital, said: “We are very excited to add Virtus Triton Valor to our community of EMS partners. Users are now able to create bookmakers and participate in price formation opportunities in a market of a size 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 search for liquidity. Appital allows them to interact with like-minded institutions in a market of size. By integrating with Appital, asset managers can now access liquidity that would otherwise be latent and start a book building process, which adds 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 of their bookbuilding process and access liquidity in a market of 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 haven’t had access to before.”

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

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

In addition, Appital joins buyside institutions representing an additional $25 trillion in AUM and proactively engages with global, regional and specialist asset managers to increase the depth of available liquidity opportunities within the platform.