LONDON /PRNewswire/ -- Algomi, the network company providing information-matching solutions for the optimisation of fixed income liquidity, has won the "FinTech Innovation of the Year" in the 2015 Euromoney's Global Awards for Excellence.
Launched in 2012, Algomi has focused on looking to solve the liquidity crisis seen in bond markets with its innovative approach to big data. Its Honeycomb Network allows investment firms to see which dealer is best placed to facilitate illiquid bond trades without disturbing the markets and having the price move against them. Honeycomb was launched to the sell-side in 2014 and buy-side firms started to join the network towards the end of the year.
This award comes following a period of sustained growth for Algomi, which now boasts 140 employees worldwide. Buyside clients, including leading hedge fund, asset management, pension fund, sovereign wealth fund and endowment firms, continue to be added to the network from offices in London, New York and Hong Kong, and client support and sales in Chicago, San Francisco, and Singapore. To date there are 11 banks installed and 75 buy-side firms installed on the Honeycomb network, with more coming online each week.
Euromoney's Awards for Excellence cover more than 20 global product categories, best-in-class awards in all regions. The awards were established to recognise institutions and individuals that demonstrate leadership, innovation, and momentum in the markets in which they excel.
"This award and the industry recognition at a global level is verification of Algomi's market proposition. It is not only validation of a solution that helps to solve a real industry problem, but demonstrates its need to the clients that have worked with us from the beginning and our employees who have helped to grow the firm to where it is today," saidStu Taylor, CEO. "The ambition of Algomi was to give banks the ability to inject velocity into their balance sheets, while allowing the buy-side to shift bond inventory easily, without unsettling the existing market structure. The feedback from clients so far proves that Honeycomb is enabling that to happen. Winning this award confirms the need for and future potential of Algomi in the fixed income trading landscape."
The awards were presented at the Natural History Museum in London yesterday evening at a Gala dinner.
For more on Algomi's award win, visit: http://www.euromoney.com/Article/3469046/Awards-for-Excellence-2015-Best-financial-technology-innovation.html
For more information on Euromoney's Global Awards for Excellence, visit:http://www.euromoney.com/Poll/3312/PollsAndAwards/Awards-for-Excellence.html
Notes to Editors
ABOUT ALGOMI LTD
Algomi connects fixed income professionals, empowering them to make better trading relationships, in the ever-changing landscape of capital, leverage and liquidity requirements. By harnessing the relationships between Fixed Income salespeople, traders and their clients, the Algomi Honeycomb suite of scalable software greatly increases the opportunities and velocity in large and illiquid voice trades between banks and buy side investors.
For banks, Algomi creates a real time internal sales and trading bond information network using their own data to identify the best trade opportunities and enables real-time collaborations between sales, traders and investors. This delivers more effective execution of less liquid bonds and integrates with Algomi Honeycomb. For investor firms, Algomi Honeycomb becomes their eyes and ears on the world's trading floors. Providing the data and market insight vital to select the right dealers and the right timing of the trade to ensure maximum likelihood of execution. The investor is able to deal in size, achieve Best Execution, and remain discrete in the market while banks get to use their large distribution network. Execution is voice based between investor and bank, as is appropriate for large sensitive trades.
Algomi was 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 is backed by investment from Lakestar, and an exceptional panel of Strategic Advisors. Algomi has over 140 employees with offices in New York, London and Hong Kong, and client support and sales in Chicago, San Francisco, and Boston. [email protected]
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Charlie Morrow / Katherine Dvorkin
Cognito Europe
+44 (0)20 7426 9400
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