Appital Turquoise BookBuilder™

Appital Turquoise BookBuilder™

Price discovery for large illiquid equity trades is a longstanding challenge. This is especially the case for trades that equate to many times the average daily volume (ADV) traded. As the world’s first algorithmic bookbuilding system, Appital Turquoise BookBuilder™ is an innovation ideally suited to solving the problem.

Appital Turquoise BookBuilder™ deploys an automated workflow to improve price formation for stocks across more than 20 markets. Placing institutional investors at the centre of the bookbuilding process, it allows them to interact with like-minded institutions to improve what has traditionally been a manual and opaque process for buyside participants.

This historic step in the electronification of equity markets gives the buyside an active role in price discovery and enhances market efficiency. Backed by Appital’s innovative technology, it offers buyside firms the ability to execute larger volumes with minimal market impact.