We are delighted to announce that Appital won The Trade News’ Award for Fintech of the Year’ during the 2022 Leaders in Trading Event, held on 02 November 2022. The award recognises the pioneers shaking up the way the industry operates, creating new pathways and developing best-in-class, cutting-edge technology solutions. 

Appital stood out for the launch of  Appital Turquoise BookBuilder™ in the summer of 2022, which is the first buyside to buyside bookbuilding platform to give institutional investors the opportunity to proactively source liquidity. Appital Turquoise BookbBuilder™ brings a historically highly manual and opaque process into an automated, electronic platform. The European trading team of the world’s largest sovereign wealth fund, Norges Bank Investment Management, successfully originated and executed the first trade, showcasing that Appital established and tested a new buyside workflow, fully connected to the market infrastructure.

Mark Badyra, CEO of Appital, said: “We are absolutely thrilled to have won recognition in the industry for our bookbuilding platform. This is a great endorsement to all the work we carried out with many of our industry partners to launch Appital Turquoise BookBuilder™, essentially creating a new workflow for the buyside community to access hard-to-find liquidity”.

“I am very proud of our team who have worked tirelessly to deliver on our mission to bring innovation and transparency to equity markets.”

Appital enables buyside firms to gain control over the entire bookbuilding process. Asset managers benefit from liquidity discovery and price formation opportunities for illiquid equity positions, as well as the ability to execute large volumes on the regulated Turquoise MTF, often in multiple days’ ADV, with minimal market impact or risk of price erosion.

The award comes after a year of developing successful partnerships and building the necessary technology infrastructure to bring Appital’s vision to life, to introduce innovation and automation to a traditionally opaque and relationship-driven bookbuilding process.

Over the last year, Appital has integrated with EMS providers FlexTrade, FactSet and TS Imagine, and executing brokers Instinet and  Bernstein. In anticipation of the bookbuilding platform’s launch, Appital also secured an additional £1.7 million investment from Frontline Ventures.