Abu Dhabi Securities Exchange and Virtu Financial Announce the Launch of Block Crossing for Equity Securities Listed on Abu Dhabi Securities Exchange
Virtu Financial and the Abu Dhabi Securities Exchange launched the POSIT block-trading indications network for ADX-listed equity securities, with Virtu the first firm to execute electronic block trades sourced through POSIT on ADX's upgraded Negotiated Block Trade facility. All trades settle on a T+2 basis through the Abu Dhabi Central Securities Depository, matching ADX's standard settlement cycle, while Arqaam Capital provides connectivity, brokerage and post-trade services for firms that are not direct ADX members.
Key figures
- Regional scope
- First phase of POSIT block-trading for MENA equity securities
- Settlement agent
- Abu Dhabi Central Securities Depository
- Settlement cycle
- T+2
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