TS Imagine, the trading, portfolio and risk management solutions provider, has integrated its multi-asset execution management system (EMS) with Appital’s bookbuilding platform to provide buy-side clients with greater access to liquidity.
The TS Imagine EMS integration is a step in developing the necessary market structures to bring Appital’s bookbuilding platform to equity capital markets participants. The announcement follows the recent Appital collaboration with executing brokers Instinet and Bernstein and in anticipation of Appital’s launch later this year.
Appital gives buy-side firms exposure to deal flow opportunities, including in highly illiquid, small and mid-cap stocks, offering real-time visibility, transparency and control over the bookbuilding and deal distribution process.
The TS Imagine EMS integration could give buy-side traders the opportunity to discover hard-to-find liquidity and execute large orders with minimal market impact or risk of price erosion. With this integration, the flow originated on the Appital platform can be executed through TS Imagine’s EMS.
Appital users will also be able to execute all deals through the Turquoise multilateral trading facility (MTF), via a single point of access and with seamless straight-through-processing (STP) to over 20 settlement venues.
Andrew Morgan, president at TS Imagine, said, “Access to liquidity is one of the top priorities for our global asset management clients and we are constantly looking for partners who can provide them with new liquidity discovery opportunities. Appital brings innovation and automation to the market and is an efficient way to unlock valuable liquidity. We are delighted to collaborate with them in preparation for the European launch.”
Mark Badyra, CEO of Appital, said, “As we move closer to launch, we are delighted to integrate with TS Imagine’s EMS and bring a historically highly manual, phone based order flow process, into an automated, electronic platform. Our mission is to provide unique, electronic liquidity discovery and price formation capabilities of illiquid equity positions and enable execution with minimal market impact or risk of price erosion. This latest integration brings us a step closer to achieving our goal.”
Appital is currently onboarding asset managers onto its platform in preparation for launch later this year. EMS providers are able to code new integrations to established, FIX-based protocols to potentially benefit the buy-side community.
©Markets Media Europe, 2022
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