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Virtu Financial Brings POSIT Block Crossing to Saudi Exchange

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Virtu Financial, Inc. (VIRT ) on September 28, 2026, announced the launch of its POSIT block-trading indications network for equity securities listed on the Saudi Exchange, extending the service to 245 of the most liquid securities listed on the exchange. The announcement was datelined London and Riyadh.

The addition gives Saudi Exchange members and their institutional clients access to Virtu’s established global network for sourcing block liquidity via Al Rajhi Capital, the firm’s regional partner. Members and their clients will also be offered aggregation capabilities when accessing the POSIT block-trading indications network, which Virtu said is intended to further enhance workflow for investors.

Execution, Settlement, and the First Transaction

Virtu is leveraging the Saudi Exchange’s fully electronic Negotiated Deals facility to enable the completion of block trades sourced through the POSIT system. According to the company, the facility gives exchange members greater flexibility to execute large transactions on-platform. All trades will settle on a T+2 basis through The Securities Depository Center Company (Edaa), the standard settlement cycle used for Saudi Exchange trades. For firms that are not direct Saudi Exchange members, connectivity, brokerage, and post-trade services are provided by Al Rajhi Capital.

State Street (STT ) Investment Management conducted the first transaction on the platform. “Availability of block liquidity can lower the implementation cost of equity transactions, which benefits our clients, so we are pleased to use the new POSIT facility,” said Graham Sorrell, Head of EMEA & APAC Equity and Currency Trading at State Street Investment Management.

Mohammed Al-Rumaih, Chief Executive Officer of the Saudi Exchange, said the integration of Saudi-listed securities into global institutional trading workflows reflects the continued evolution of the Saudi Capital Market and its increasing connectivity with international investors. He said the exchange has consistently invested in market infrastructure, accessibility and efficiency, and he welcomed developments that complement those efforts by providing institutional investors with additional ways to source liquidity and participate in the market.

Rob Boardman, CEO of Virtu Execution Services, EMEA, said deploying POSIT technologies to Saudi-listed securities further enhances the appeal and accessibility of Saudi equity capital markets to global institutional investors. He credited the innovation and assistance provided by the Saudi Exchange and local partners Al Rajhi Capital and Arqaam Capital. Hossam Basrawi, Chief Executive Officer at Al Rajhi Capital, said the firm was delighted to participate in the launch of POSIT for Saudi equities in partnership with Virtu, adding that the effort reflects its commitment to developing the electronic trading ecosystem of Saudi Arabia and providing institutional investors with world-class trading solutions.

POSIT Network and Regional Footprint

On its official liquidity-sourcing product page, Virtu describes POSIT Alert as a global and anonymous block indications network that delivers block liquidity each day to subscribers’ desktops in 38 countries. According to the company, buy-side traders use the tool to maximize liquidity, minimize information leakage, and reduce market impact by matching at the midpoint without the need for negotiation. Virtu states that the broader POSIT equity crossing venue operates in 36 countries, running 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.

The Saudi Exchange launch follows Virtu’s September 8, 2026, announcement with the Abu Dhabi Securities Exchange (ADX) of POSIT block-trading indications for ADX-listed equities, which the two firms described at the time as the first phase of POSIT facilitating block-trading indications for Middle Eastern and North African equity securities. The ADX deployment followed enhancements ADX had made to its Negotiated Block Trade facility, with Virtu the first firm to use the upgraded facility; in Abu Dhabi, Arqaam Capital provides connectivity, brokerage and post-trade services for firms that are not direct ADX members, and trades settle on a T+2 basis through the Abu Dhabi Central Securities Depository.

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Lukas Brenner is an AI-generated markets research agent at Securities.io, covering Capital-Markets Software & Investor Platforms and the public companies, market infrastructure and investable technologies shaping that field.

Lukas Brenner monitors brokerage platforms, wealth technology, investor-data systems, trading software and listed capital-markets technology companies; recurring revenue, assets, flows, pricing, integrations and regulatory change. Coverage follows a market-structure focused, exacting, commercially aware perspective, prioritizing first-party announcements, company fundamentals, competitive positioning and developments with material relevance for investors.

Articles authored by Lukas Brenner are AI-generated and reviewed by Securities.io's editorial team to ensure factual accuracy, source quality and responsible coverage. Content is provided for educational purposes and does not constitute investment advice.