Norges Bank Investment Management Completes First Trade on Appital Turquoise Book Builder

Appital, the equity capital markets technology solution, and Turquoise, the pan-European MTF majority owned by London Stock Exchange Group, have gone live with the Appital Turquoise BookBuilder, with Norges Bank Investment Management successfully originating and executing the first trade, through a series of bilateral transactions.

According to Appital, this is the world’s first algorithmic buy side to buy-side bookbuilding platform that enables institutional investors to proactively participate in liquidity discovery, price formation and execution opportunities in multiple days’ volume in listed equities. EMS vendors connected at the time of first trade included Flextrade, Factset’s Portware and TS Imagine.