Following a recent 10 year strategic partnership plan with Euronext, Algomi have announced more exciting news. The pan-European giant has taken the next step and invested £8.1 million directly into Algomi. News of this recent development means that Algomi’s immediate future in the world market seems secure.
In June of last year, it emerged that Deutsche Bank had stopped using Algomi software in the US, which must have been a blow for the company. Having just opened offices in New York, in order to expand into the American market, they could have been forgiven for losing heart. However, Deutsche Bank remained a client and still utilised Algomi’s Honeycomb software in Europe. Undaunted, Algomi soldiered on. This latest investment from Euronext must mark the end of any period of uncertainty within and around the company.
So, what’s the next step for Algomi? Is there a plan for maximising the potential of this latest boost? According to Stu Taylor, Algomi’s co-founder and CEO, it remains all about creating a greater network for the benefit of their clients. They will be venturing even further into the credit market seeking, as always, to facilitate maximum liquidity.
Creating market access points to establish a solid presence in the US and Asian markets is now a priority for the firm. If they can position themselves as the go-to software for bond trading internationally, the sky is the limit.
The ethos of Algomi is about bringing things together and taking positive steps towards a sustainable future for traders. They bring the human factor together with technology. They bring banks and buy-side client together to create an information web and connect traders together with each other. They link over 240 buy-side clients and 17 banks to their clients – what’s more the numbers keep growing. These figures have been on the rise consistently since the firm’s conception and that momentum shows no signs of slowing down.
Today’s world is all about virtual networking and its uses in the real world. Algomi are taking full advantage of this trend and utilising it in the financial world. Like social networks, they reveal connections through their Honeycomb software that would otherwise have been impossible to see.