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ADX and Virtu Financial Launch POSIT Block Crossing for Listed Equities
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Virtu Financial (VIRT ) and the Abu Dhabi Securities Exchange (ADX) on September 8, 2026 launched the POSIT block-trading indications network for equity securities listed on ADX, extending the electronic crossing system into Middle East and North Africa equities for the first time. The launch makes Virtu the first firm to complete electronic block trades sourced through POSIT using the exchange’s upgraded Negotiated Block Trade facility, the companies announced.
The launch follows recent enhancements ADX made to its Negotiated Block Trade facility, which give exchange members greater flexibility to execute large transactions on-platform. All trades executed through the arrangement will settle on a T+2 basis through the Abu Dhabi Central Securities Depository, the same settlement cycle used for standard ADX trades. For firms that are not direct ADX members, connectivity, brokerage and post-trade services are provided by Arqaam Capital, Virtu’s regional partner.
The companies described the rollout as the first phase of POSIT facilitating block-trading indications for Middle Eastern and North African equity securities. The facility gives ADX members and their institutional clients access to Virtu’s established global network for sourcing block liquidity in ADX-listed securities with minimal market impact and information leakage, according to the announcement.
“By welcoming Virtu’s POSIT technology to ADX, we provide institutions seeking large trades direct access to new liquidity opportunities in our market,” said Abdulla Salem Alnuaimi, Group Chief Executive Officer of the ADX Group. He said the partnership is part of ADX’s ongoing commitment toward building a globally connected market while preserving the integrity of price discovery on its public order book.
Rob Boardman, CEO of Virtu Execution Services, EMEA, said extending POSIT to ADX-listed securities “further enhances the appeal and accessibility of Abu Dhabi’s equity capital markets to institutional investors globally,” and credited ADX and Arqaam Capital for their roles in the project. Sumeet Akewar, Head of Electronic Trading at Arqaam Capital, said the launch reflects the firm’s commitment to advancing the region’s electronic trading ecosystem.
The POSIT Network
Through its POSIT platform, Virtu operates one of the world’s longest-running and most widely used electronic block-trading networks, serving institutional asset managers globally, according to the company. Virtu’s client solutions documentation describes POSIT Alert as a global and anonymous block indications network delivering block liquidity each day to subscribers’ desktops in 38 countries. Buy-side traders use the system to maximize liquidity, minimize information leakage, and reduce market impact by matching at the midpoint without the need for negotiation, the documentation states. The broader POSIT venue operates in 36 countries as an alternative trading system in the United States and Asia Pacific, a multilateral trading facility and periodic auction facility in Europe, and a dark crossing network in Latin America.
ADX Group Background
The Abu Dhabi Securities Exchange was established on November 15, 2000 pursuant to Local Law No. (3) of 2000, which granted the exchange legal rights with independent financial and administrative status. On March 17, 2020, ADX was converted from a public entity into a Public Joint Stock Company in accordance with Law No. (8) of 2020. The ADX Group comprises the exchange and its post-trade ecosystem, including wholly owned subsidiaries AD Depository and AD Clear, supporting trading, clearing, settlement, and custody.
The Group provides a regulated marketplace for trading securities including equities issued by public joint-stock companies, government and corporate bonds, exchange-traded funds, and other financial instruments approved by the UAE Capital Market Authority. ADX is the second-largest exchange in the Arab region by market capitalization, according to the announcement.
In February 2025, ADX formally unveiled the ADX Group structure alongside two new subsidiaries, Abu Dhabi Clear and Abu Dhabi Central Securities Depository. That reorganization included a strategic technology partnership with Nasdaq to deliver a Core Platform Upgrade introducing advanced capabilities across trading, clearing, and post-trade services, including new order types and negotiated deal features for greater trading flexibility. ISO 20022 messaging protocols were introduced as part of the Group’s digital enhancements to improve transaction processing and support integration with international financial institutions, the exchange stated at the time.
The POSIT block-trading indications network is now live for ADX-listed equity securities, with Arqaam Capital providing access services for non-member firms.
