Algomi

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Algomi
Algomi.jpg
Founded 2012
Headquarters London, New York, Hong Kong
Key People Scott Eaton, CEO
Products Financial Technology
Website Algomi.com

Algomi provides an information matching service for fixed income markets. Founded in 2012, the company offers its Honeycomb service, which provides an information matching system that directs buyers to sellers in the fixed income market. It also allows banks to let their clients see which bank will best be able to move their order, without announcing intent to the larger market. On the sell side it allows sellers to find potential buyers and see how recently they have requested a quote.[1]

The company is privately held. It is backed by investment from Lakestar, Euronext, AllianceBernstein and S&P Global and has offices in New York, London and Hong Kong.

History

The company was founded in 2012 in the UK by Stu Taylor (formerly of UBS), Usman Khan and Robert Howes (founders of CAPXD), and Michael Schmidt (also from UBS).[2] [3]

Its Honeycomb service went live in 2014, beginning with sell side users before expanding to buy side users.[4] It added Interactive Data's hourly pricing information into its system in July of 2015.[5] It also won FinTech Innovation of the Year from EuroMoney in 2015.[6]

In May of 2017, AllianceBernstein agreed to sell its bond-trading software platform to Algomi. AllianceBernstein will receive a minority stake in Algomi and a seat on its board.[7]

On June 18, 2019, Algomi announced a feature allowing clients to execute trades directly on Liquidnet Inc. and Trumid Financial LLC through its own interface. The move is Algomi's attempt to be first to market with a bond execution-management system, or EMS, like those that have existed for more than a decade in the equity markets.[8]

Products and Services

Honeycomb, an information matching service for the fixed income market. [9]

Key People

References

  1. Algomi promises bond sales revolution. Reuters.
  2. Algomi promises bond sales revolution. Reuters.
  3. About Us. Algomi.
  4. Algomi's Honeycomb Network Sees Strong Buy Side Adoption. MarketWatch.
  5. Interactive Data to provide evaluated pricing data to Algomi Honeycomb network. Finextra.
  6. Algomi Wins “FinTech Innovation of the Year” in Euromoney’s Global Awards for Excellence. The Independent.
  7. AllianceBernstein Is Selling Bond-Trading Software. The Wall Street Journal.
  8. Bond Investors Get New Tools to Speed Up Trading. The Wall Street Journal.
  9. Fintech Focus: Algomi. Efinancialnews.com.