Virtu Financial has launched its POSIT block-trading indications network for equities listed on the Abu Dhabi Securities Exchange.

The move follows efforts to expand international access to ADX-listed securities. Last year, eToro added more than 30 ADX stocks, while foreign investors accounted for 40% of trading and institutions 80% of trade value. Centroid also integrated Arqaam Capital to provide access to ADX and other GCC exchanges.

The service builds on recent changes to ADX’s Negotiated Block Trade facility, which gives exchange members more flexibility to execute large transactions on the exchange.

Virtu Connects Institutions to ADX Liquidity

Virtu is the first firm to use the upgraded facility for electronic block trades sourced through POSIT. The system allows institutional investors to identify block liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term while limiting market impact and information leakage.

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Trades will settle on a T+2 basis through the Abu Dhabi Central Securities Depository, the same cycle used for standard ADX trades.

Firms that are not direct ADX members can access the service through Arqaam Capital, which provides connectivity Connectivity Connectivity is defined as a term used for connecting devices to each other. In most cases, this refers to computer networking and more specifically includes bridges, routers, switches, gateways, and service as well as local networks. Connectivity can refer to simple forms, such as connecting a home or office to the internet or even connecting a digital camera to a computer or printer. Connectivity in FinanceConnectivity has taken on new meaning with the growth of fintech and Big Data collectio Connectivity is defined as a term used for connecting devices to each other. In most cases, this refers to computer networking and more specifically includes bridges, routers, switches, gateways, and service as well as local networks. Connectivity can refer to simple forms, such as connecting a home or office to the internet or even connecting a digital camera to a computer or printer. Connectivity in FinanceConnectivity has taken on new meaning with the growth of fintech and Big Data collectio Read this Term, brokerage and post-trade services.

Abdulla Salem Alnuaimi, Group Chief Executive Officer of the ADX Group, said the arrangement would give institutions trading large positions “direct access to new liquidity opportunities in our market.”

He added that the exchange was seeking to deepen global institutional participation while maintaining price discovery on its public order book.

Virtu Expands POSIT Across MENA Markets

Virtu said this is the first phase of its expansion of POSIT block-trading indications to Middle Eastern and North African equity securities. The initial facility covers ADX-listed shares and is available to ADX members and their institutional clients.

Rob Boardman, CEO of Virtu Execution Services, EMEA, said the expansion of POSIT to ADX-listed securities would improve access to Abu Dhabi’s equity market for institutional investors.

“The innovation and assistance provided by ADX and our local partner Arqaam Capital were critical to the success of the project,” Boardman said.