Algomi, a London, UK-based fixed income technology provider, received a $10m strategic investment.
Euronext made the investment taking a minority stake in the company. As part of the partnership, Paul Humphrey, Head of Fixed Income, Rates & FX at Euronext, will join the Board of Directors of Algomi.
The investment, which follows the agreement of a Joint Venture between both companies, will enable corporate bond traders to access Algomi’s bond information network on a global basis and exchange risk efficiently by identifying the most appropriate counterparty.
The global Joint Venture also involves working closely with regional exchanges and other partners to deliver holistic market access. As part of this, Euronext is working to establish an Automated Trading System (“ATS”) in North America, while discussions are already under way in APAC.
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 a bond information network that enables all market participants to securely and intelligently leverage data to make valuable trading connections.
The company, backed by Lakestar, has 140 employees in New York, London and Hong Kong.
Euronext is the leading pan-European exchange in the Eurozone with nearly 1,300 listed issuers worth close to €3.3 trillion in market capitalisation as of end December 2016, an unmatched blue chip franchise consisting of 25 issuers in the EURO STOXX 50® benchmark and a strong diverse domestic and international client base.
Euronext operates regulated and transparent equity and derivatives markets. Its total product offering includes Equities, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. Euronext operates regulated markets, Alternext and the Free Market; in addition it offers EnterNext, which facilitates SMEs’ access to capital markets.For the latest news, find us on Twitter (www.twitter.com/euronext
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