Many people are worrying about the future of the UK’s financial industry, especially after Brexit. Speculators believe that many banks are going to vacate to find more stable economic climates in Europe, so will London become a city of empty offices?

Most likely not. The ever-growing world of financial technology is inhabiting London more than any other city on the planet. In FinTechCity´slatest annual fintech top 50 list, 31 of the listed fintechs are based in London.

One such fintech is Algomi. News is that Algomi is rapidly expanding its operations with partnerships and investments from various sources. Most recently with AllianceBernstein, with Algomiacquiring the ALFA fixed income liquidity analytics tool.

Partnerships leading the way

For the company, there’s no better Algomi news. With Algomi’s help, AllianceBernstein has developed their ALFA technology. It provides information on liquidity and trade intent. This information gives the buy-side trader an accurate, up to date view of the entire bond market, including structured credit, government bonds, investment grades, high yields, municipal debt and the emerging market.

Algomi was selected after a very competitive search to find the sole marketer of the product. It will be marketed to buy-side fund managers, giving them access to a large amount of data from direct dealer inventory feeds, electronic venues and messaging platforms.

As Algomi focuses on data technology AllienceBernstein made the decision to join with them in this project. To protect a client’s privacy, clients own their own data and has Algomi has no access to it. Algomi clients will procure their own hardware via an approved cloud provider and Algomi simply deploys ALFA technology, maintaining Algomi’s role as purely a software provider.

The future looks bright for Algomi

As with many other financial technology companies based in London, the future is bright and exciting. In March Algomi bagged a $10 million investment from pan-European exchange market Euronext.

This deal involves a 10-year plan to develop software on both the buy-side and sell-side of the industry. Even if big banking vacates London, financial technology will most likely take its place.

For more Algomi news and any developments on London’s financial industry, visit us at fintechwebnews.co.uk