The Abu Dhabi Securities Exchange (ADX) and Virtu Financial have announced the launch of the POSIT block-trading indications network for equity securities listed on the exchange. This development follows recent enhancements implemented by the ADX to its Negotiated Block Trade facility, which offers exchange members improved flexibility to conduct large-scale transactions on-platform. Virtu has become the first company to utilize this upgraded infrastructure to execute electronic block trades through the POSIT system.
Transactions executed via this new system will settle on a standard T+2 basis through the Abu Dhabi Central Securities Depository, matching the settlement cycle of regular ADX trades. To assist firms that do not hold direct ADX membership, Arqaam Capital, Virtu's regional partner, will provide the necessary connectivity, brokerage, and post-trade services. This initiative marks the initial phase of Virtu's plan to facilitate block-trading indications for equities across the Middle East and North Africa (MENA) region.
Through this facility, ADX members and their institutional clients gain access to Virtu's global network to secure block liquidity in Abu Dhabi-listed equities while reducing information leakage and market impact. Abdulla Salem Alnuaimi, Group Chief Executive Officer of the ADX Group, stated that integrating Virtu's POSIT technology allows institutions to directly access new liquidity opportunities, thereby deepening global institutional participation and strengthening the market's liquidity pool.
Rob Boardman, CEO of Virtu Execution Services, EMEA, highlighted that extending POSIT to ADX-listed equities boosts the accessibility of Abu Dhabi's capital markets for global institutional investors. Sumeet Akewar, Head of Electronic Trading at Arqaam Capital, added that the launch underscores a shared commitment to advancing the electronic trading ecosystem within the GCC by delivering world-class trading solutions to institutional investors.
