Meet the industry innovators listed for The TRADE’s FinTech of the Year award, in partnership with Instinet. Appital, Capital Markets Gateway (CMG), Enfusion, Genesis Global, OpenGamma and Saphyre are fighting it out for the prize this year.
Algorithmic bookbuilding platform Appital went live last week, after teaming up with Turquoise in July last year - delivering a new peer to peer platform for the buy-side to proactively source new liquidity.
The financing, led by Frontline Ventures, follows a successful funding round last year, bringing the total investment to date to £4.85 million.
By bringing order flow into TS Imagine’s EMS, we are de-risking trading in illiquid equity positions, Appital’s chief executive Mark Badyra told The TRADE.
Integration will provide buy-side traders with more transparent bookbuilding and price formation.
The broker joins Instinet, which Appital confirmed in January as the first executing broker on its platform.
The pair will create a new channel for execution flow for the buy-side in hard to trade blocks in European stocks.
These participants expect liquidity to be the buzz word of 2022, whether that be aggregation, new liquidity sources or the changing role of electronic liquidity providers.
Over 30 asset managers are currently taking the necessary legal and technical steps to be able to join Appital at launch.
Incoming head brings considerable experience of equity capital markets, data engineering and analytics to Appital, with experience at Credit Suisse and Numis.