Founded in 2012, London-based Algomi provides information-matching solutions for the optimisation of fixed income liquidity. Now with over 240 buy-side clients and at least 17 banks in the Honeycomb network, Algomi continues to grow. Honeycomb helps banks create a virtual balance sheet based on actual bond data, such as trade information, enquiries, and holdings. It also allows buy-side firms to have access to this authorised virtual balance sheet.
Working with Euronext
Algomi has revolutionised data circulation in the bond market. We are delighted to push further ahead with this revolution with recent Algomi news of our partnership with Euronext. Euronext is to invest 2.3 million dollars in order to create a joint venture company with Algomi directed at refining liquidity detection in pan-European corporate bond trading.
If you are part of the Honeycomb network, under the agreement with Euronext, you will be able to access this interface directly through your existing Algomi application. The virtual platform will employ complex algorithms to improve liquidity and search for the best possible implementation. This ambitious venture will connect banks and investors under a joint network, where deals can be completed online.
What both sides have to say
Stu Taylor, co-Founder and CEO of Algomi stated on Algomi news: “We are delighted to be working with such a significant market player as Euronext, who have already proven themselves to be highly nimble and forward thinking in this field. The long-term relationship is evidence of the commitment by both sides to improving the European corporate bond market.”
Stéphane Boujnah, CEO of Euronext said: “The creation of this platform will ultimately diversify Euronext’s offering, with further key synergies in technology and market data to be explored jointly with Algomi. This initiative, alongside our broader ambitions in FICC, fits with Euronext’s ‘Agility for Growth’ strategy of capturing innovative opportunities arising from the market environment, accelerating growth through strategic partnerships, enhancing agility and strengthening its core offering to finance the real economy.”
At Algomi, we are committed to unlocking the full potential of the fixed income market through inventive digital technology. Partnership with Euronext will create huge network effects and help banks and investors recognise the most profitable trades from mere ‘market noise’.