Appital welcomes Bernstein ahead of launch of bookbuilding platform

Rick Steves

The upcoming asset manager clients collectively manage over $30 trillion and are taking the necessary legal and technical steps in order to join the platform.

Appital has welcomed Bernstein as an executing broker on its new bookbuilding platform ahead of launch. The news follows the addition of Instinet as the first executing broker.

The Appital Bookbuilding platform enables institutional investors to proactively source pan-European liquidity, including in highly illiquid, small and mid cap stocks.

Pan-European liquidity in equity capital markets

Bringing automation to equity capital markets, Appital improves liquidity discovery and price formation processes of illiquid equity positions, thus giving the buy-side community greater exposure to deal flow opportunities they have not been able to access before.

Buyside traders looking to execute large orders often in excess of 5 days ADV, including in highly illiquid, small and mid-cap stocks, have access to real-time visibility, full transparency and maximum control over the bookbuilding, price formation and deal distribution process.

Flow originated on the Appital platform can be seamlessly executed through Bernstein, which has partnered with Appital to address demand from the buy-side community looking for an efficient and transparent way to execute large in size orders with minimal market impact or risk of price erosion.

Mark Badyra, CEO Appital, commented: “We have been working with Bernstein to develop the platform from the early development phase. Asset managers told us they would like to use Bernstein to execute this type of flow because of their independent market position and strong research focus. Our collaboration gives our shared client base the functionality to find new sources of liquidity which will be unique compared to other technologically driven platforms.”

Toby Bayliss, Head of European Electronic Trading at Bernstein Autonomous LLP, added: “Our ethos is focused on the institutional market and we aim to align with the interests of our buyside clients. Appital provides an innovative, automated and more efficient way for clients to source and access liquidity, enhancing our primary role as an execution broker.”

Flow executive via Instinet and Bernstein

Appital has begun the formal onboarding process for many of the largest global asset managers over the coming months, with more than 30 asset managers lining up to join Appital once it launches.

The upcoming asset manager clients collectively manage over $30 trillion and are taking the necessary legal and technical steps in order to join the platform.

Asset managers that decide to join the platform to pursue a similar liquidity and price formation process are welcomed to have their flow executed via Instinet and Bernstein.

Appital has also partnered with Turquoise so that buyside firms can gain a single point of access with seamless straight-through-processing (STP) to over 20 settlement venues.

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