Algomi Honeycomb has been named as ‘Product of the Year; and awarded ‘Best Buy-Side Newcomer’, at this year’s Buy-Side Technology Awards from Waters Technology.

Presented to Algomi for its Honeycomb network, which now has 140 buy-side firms committed and 14 banks live or being installed. Honeycomb is the only solution on the market that delivers buy-side firms with a unique and powerful display of information on their portfolio. For portfolio managers, it turns complex data systems into actionable knowledge, helping investors trade with increased speed and success. Honeycomb sets the new standard in the way dealers market to the buy-side.

Honeycomb introduces a new dimension of data, namely insight into bank distribution capability. Honeycomb displays the investor’s portfolio and planned transactions in a visually engaging, informative and intuitive form, by allowing the investor to view information shared with them from multiple sell side firms, without revealing their intentions until they are ready to open a communication channel.

Usman Khan, Algomi co-founder and CTO collected the award in London, and commented: “Honeycomb is an investor’s eyes and ears onto the world’s trading floors, connecting insight from inside the banks that is not available anywhere else. Only sophisticated technology is able to connect investors and salespeople without a ripple in the market. Algomi is the single solution on the market able to do this. It is an honour to receive this award and validation to the Algomi team that has been working relentlessly to develop the technology for our client’s needs.”

“Technology has a clear role to play in how well the complex bond market functions. It’s exciting to see such a rapid take-up of Honeycomb in buy-side firms. The speed that buy-side firms have committed to the Honeycomb network is a strong indication of the vitality of the data and market insight that it provides, meaning that all complex and fragmented data can be put to good use”, added Rob Howes, CIO and co-founder.

The Buy-Side Technology Awards recognise the industry’s leading technologies and vendors, voted for by five buy-side focused technology consultants and two of Buy-Side Technology’s editors. The ‘Product of the Year’ award was independently awarded to Algomi following consideration of all shortlisted companies across all 29 categories.

Algomi is continuously adding asset management, pension fund, sovereign wealth fund, endowment and hedge fund clients from offices in New York, London and Hong Kong, and client support and sales in Chicago, San Francisco, and Boston.

 

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