Virtu Financial Announces Launch of Block Crossing for Equity Securities Listed on the Saudi Exchange

Rhea-AI Summary

Virtu Financial (VIRT) launched POSIT block-trading access for 245 Saudi Exchange-listed equities through its indications network.

Saudi Exchange members and their institutional clients can source block liquidity through the network via Virtu’s regional partner, Al Rajhi Capital. Aggregation capabilities will also be offered. Trades sourced through POSIT can be completed using the exchange’s electronic Negotiated Deals facility and settle on a T+2 basis through Edaa. Al Rajhi Capital provides connectivity, brokerage and post-trade services for firms that are not direct exchange members. State Street Investment Management conducted the first transaction on the platform.

News Explained

The release says State Street Investment Management conducted the POSIT facility’s first transaction, establishing that the Saudi-listed network has progressed from launch and access to actual transaction activity.

Argus Sep 28 session 1 alert

-2.68% close to close 1.2x rel. volume Open Argus

Details

News Market Reaction – VIRT

$4.72B Mkt Cap at Peak Alert

On Sep 28, the day this news came out, VIRT closed 2.68% below the previous close.

Data tracked by StockTitan Argus for the Sep 28 session.

Key Figures

Saudi securities added: 245 securities Settlement cycle: T+2

Saudi securities added

245 securities

Added to the POSIT network for Saudi Exchange-listed equities

Settlement cycle

T+2

All trades; standard Saudi Exchange settlement cycle

Historical Context

1 past event · Latest: Sep 08

1 event

1. Sep 08

   Regional POSIT launch

   24h Move

   -2.2%

   Launched POSIT block-trading indications for Abu Dhabi-listed equities

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

block liquidity, t+2

2 terms

block liquidity financial

"sourcing block liquidity via Al Rajhi Capital"

Block liquidity is the market's ability to absorb and execute unusually large single trades—so-called "blocks"—without causing big moves in the security's price. It matters to investors because low block liquidity can force large buyers or sellers to accept worse prices or to split trades over time or use special venues, while higher block liquidity lets big positions be traded more quickly and with less price impact, like moving a large object through a crowded hallway without bumping into people.

t+2 financial

"All trades will settle on a T+2 basis"

t+2 is the standard settlement rule that means a securities trade is finalized two business days after the trade date; the buyer must deliver funds and the seller must deliver the shares within that window. Think of it like ordering an item that is paid for at checkout but is officially delivered two days later—investors need to track this timing for cash availability, margin requirements, corporate actions, and to avoid settlement failures or unexpected exposure.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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LONDON and RIYADH, Saudi Arabia, Sept. 28, 2026 (GLOBE NEWSWIRE) -- Virtu Financial, Inc. (NYSE: VIRT), a leading provider of global, multi-asset financial services that delivers liquidity and innovative, transparent products across the complete investment cycle to global markets, today announced the launch of POSIT^® block-trading indications network for equity securities listed on the Saudi Exchange.

The addition of 245 of the most liquid Saudi Exchange-listed securities to the POSIT block-trading indications network gives Saudi Exchange members and their institutional clients access to Virtu's established global network for sourcing block liquidity via Al Rajhi Capital, Virtu’s regional partner. Saudi Exchange members and their clients will be offered aggregation capabilities when accessing the POSIT block-trading indications network to further enhance workflow for investors.

Using the Negotiated Deals facility of the Saudi Exchange gives exchange members greater flexibility to execute large transactions on-platform. Virtu is leveraging the Saudi Exchange’s fully electronic Negotiated Deals facility to enable the completion of the block trades sourced through the POSIT system. 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.

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. At Saudi Exchange, we have consistently invested in market infrastructure, accessibility and efficiency, and we welcome developments that complement these efforts by providing institutional investors with additional ways to source liquidity and participate in our market.”

“Deploying POSIT technologies to Saudi-listed securities further enhances the appeal and accessibility of Saudi equity capital markets to global institutional investors,” said Rob Boardman, CEO of Virtu Execution Services, EMEA. “This initiative would have been impossible without the innovation and assistance provided by the Saudi Exchange and our local partners Al Rajhi Capital and Arqaam Capital.”

“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, which conducted the first transaction on the platform. “This exciting development for the region speaks to the rapid evolution of the Kingdom’s market infrastructure and clearly demonstrates growing appeal of the Saudi market as a destination for capital and increased innovation in the market.”

“At Al Rajhi Capital we value partnerships very highly,” said Hossam Basrawi, Chief Executive Officer at Al Rajhi Capital. “We are delighted to participate in the launch of POSIT for Saudi equities in partnership with Virtu. This effort reflects our commitment to developing the electronic trading ecosystem of Saudi Arabia and providing institutional investors with world-class trading solutions.”

About Virtu Financial
Virtu Financial is comprised of companies and financial services firms that leverage cutting-edge technology to deliver liquidity to the global markets and innovative, transparent trading solutions to our clients. Virtu operates one of the world's longest-running and most widely used electronic block-trading networks, serving institutional asset managers globally. For more information about Virtu’s POSIT block indications network and other workflow tools, please visit our client solutions page at virtu.com.

For more information, please contact:
Matt Sandberg
Investor Relations
investor_relations@virtu.com

Petri Darby
Media
media@virtu.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How are Virtu Financial POSIT block trades in Saudi equities executed and settled?

Trades sourced through POSIT can be completed using the Saudi Exchange’s electronic Negotiated Deals facility. All trades settle on a T+2 basis through The Securities Depository Center Company, known as Edaa.