Virtu Financial haslaunched its POSIT block-trading indications network for equities listed on theAbu Dhabi Securities Exchange.The move followsefforts to expand international access to ADX-listed securities. Last year, eToroadded more than 30 ADX stocks, while foreign investors accounted for 40% oftrading and institutions 80% of trade value. Centroid also integrated ArqaamCapital to provide access to ADX and other GCC exchanges.The service builds on recent changes to ADX’sNegotiated Block Trade facility, which gives exchange members moreflexibility to execute large transactions on the exchange.Virtu ConnectsInstitutions to ADX LiquidityVirtu is the firstfirm to use the upgraded facility for electronic block trades sourced throughPOSIT. The system allows institutional investors to identify block liquiditywhile limiting market impact and information leakage.Trades will settle ona T+2 basis through the Abu Dhabi Central Securities Depository, the same cycleused for standard ADX trades.Firms that are notdirect ADX members can access the service through Arqaam Capital, whichprovides connectivity, brokerage and post-trade services.Abdulla SalemAlnuaimi, Group Chief Executive Officer of the ADX Group, said the arrangementwould give institutions trading large positions “direct access to new liquidityopportunities in our market.”He added that theexchange was seeking to deepen global institutional participation whilemaintaining price discovery on its public order book.Virtu Expands POSIT Across MENA MarketsVirtu said this is thefirst phase of its expansion of POSIT block-trading indications to MiddleEastern and North African equity securities. The initial facility coversADX-listed shares and is available to ADX members and their institutionalclients.Rob Boardman, CEO ofVirtu Execution Services, EMEA, said the expansion of POSIT to ADX-listedsecurities would improve access to Abu Dhabi’s equity market for institutionalinvestors.“The innovation andassistance provided by ADX and our local partner Arqaam Capital were criticalto the success of the project,” Boardman said.This article was written by Tareq Sikder at www.financemagnates.com.