Start-up equity capital marketplace (ECM) platform provider Appital has built and deployed its desktop application on the OpenFin operating system for finance.
Appital’s platform aims to expose buy-side firms to deal flow opportunities by providing heads of trading and portfolio managers a full picture of liquidity and illiquid small and mid-cap stocks.
“Outdated legacy practices and a lack of innovation in equity capital markets have restricted the ability for buy side firms to access small and mid-cap or highly illiquid instruments for too long,” said Mark Badyra, CEO and co-founder of Appital. “We believe technology has a key role to play in transforming ECM, much as OpenFin has changed the landscape for capital markets desktops.”
With the platform available on OpenFin, market participants can gain a real-time view of book building activity and platform interactions directly on their desktop. The OpenFin operating system ensures interoperability with third-party applications also built on the system.
“Appital brings innovation and automation to an area of equity capital markets that has, so far, remained largely untouched by electronification and we are excited to welcome them to the OpenFin community,” added Adam Toms, CEO of OpenFin Europe. “They give buy side firms the tools to control the book building process, enabling PMs and heads of trading to find liquidity via the Appital platform and execute trades in excess of five days ADV.”
Appital’s platform is also hosted on the Google Cloud and its end-to-end processes are fully automated, with visibility and transparency for internal compliance, external audit and regulatory reporting.