FlexTrade, one of the largest multi-asset execution and order management systems, has partnered with Appital to make the first use of its new book building platform which would help it to integrate into existing market structures.
In the coming months, Appital’s platform will be fully integrated with FlexTrade’s FlexTRADER EMS, which would help to bring in the manual order flow process to an automated platform. Through FlexTrade’s integration with Appital, buy-side firms will gain access to the liquidity and efficiency of executing on Turquoise, LSEG’s (London Stock Exchange Group) that provides seamless straight-through-processing (STP) to over 20 settlement venues. This will help to address the demand of the buy-side community, especially within large asset management firms, the need for a more efficient and transparent way to execute large-sized trades without much impact on the market or the current prices.
Andy Mahoney, Managing Director EMEA FlexTrade Systems, commented: “This integration with Appital brings transparency and automation to an area of the market traditionally plagued by opacity and outdated, phone-based book building activity. We see significant demand for Appital’s offering from some of our largest asset management customers. As a result, we have been collaborating with Appital to develop standard integration procedures to ensure our clients have seamless access to Appital’s platform directly within the FlexTRADER EMS order blotter to actively participate in the liquidity discovery process in the size market”.
The integration with FlexTrade has helped in the development of a strong group of asset managers who would help address the need for liquidity and also help to understand the issues faced by larger clients and find the best way to build books on demand through the use of well-established FIX protocols which will help the buy-side community in the long run. This combination would open up new dealing opportunities that were not visible to the asset managers before.
Mark Badyra, CEO of Appital, said: “In our mission to put buy-side firms in control of their book building activity we are excited to work with innovative firms like FlexTrade to help us shape the technology infrastructure for EMS integrations. FlexTrade clients and the asset management community can now gain exposure to deal flow opportunities they have not been able to access before. This integration transforms a traditionally manual order flow process, that historically sits outside any EMS, into an automated, electronic platform”
The managers would not only have access to large liquidity, but they would also be able to have real-time visibility with high transparency as well. By doing this, they would be able to drive the liquidity and efficiently build the books.