In recent news, Algomi has received a $10 million strategic investment from Euronext, a European stock exchange. The investment, which will be in the form of a Joint Venture between both companies, will enable corporate bond traders to access Algomi’s bond information network, Honeycomb, globally and avoid risk efficiently by identifying the most suitable counterparty.

This joint venture also includes collaborating with local connections and other partners to deliver access to the market on an international level. As part of this project, Euronext aims to establish Automated Trading System (ATS) in North America.

Paul Humphrey, head of fixed income, rates and FX at Euronext, will join Algomi as part of this venture. With this move, Euronext aims to expand its presence in the fixed income space. Stéphane Boujnah, CEO of Euronext, commented that Algomi’s innovative technology, combined with Euronext’s establishment in the market, “will enable us to further diversify our revenues and capture selected opportunities arising outside of Europe.”

About Algomi

Algomi is a leading Fintech company based in London. It was founded in 2012 by Stu Taylor (Former Global Head of Matched Principal Trading and creator of PIN-FI at UBS), Usman Khan and Robert Howes (Founders of CAPXD), and Michael Schmidt (Former Head of European Credit Trading and IB Board Member at UBS). Algomi has developed two highly successful online tools, Honeycomb and Synchronicity, which enable all market participants to have access to data in order to make valuable trading connections safely and efficiently.

About Euronext

Euronext is a leading European stock exchange with offices in Amsterdam, Brussels, London, Lisbon and Paris. Euronext includes almost 1300 listed issuers and is worth almost €3.3 trillion in market capitalisation. Euronext has a flourishing international clientele.

With the exception of cash and derivatives markets, the Euronext group offers listing market data, market solutions, custody as well as settlement services. Its aggregate product offering contains equities, exchange traded funds, warrants and certificates, bonds, derivatives, commodities and indices, among others. Euronext also provides technology and financial management services to companies.

For Algomi, news such as this is very positive, as this coalition will strengthen the position of both companies in the market.