Algomi has been securing investments and partnerships steadily since the company’s launch in 2012. In the last six months, the company has secured three partnerships, with significant investment. Algomi will be working with Openfin, AllianceBernstein and S&P Global.
The latest collaboration came from S&P Global along with an investment. Algomi will have a long-term commercial relationship with S&P Global that will result in product and data collaboration.
S&P Global’s investment bought them a minority stake in Algomi and a seat on the board of directors. S&P Global will use Algomi’s bond trading technology to push into new markets.
Collaboration and diversification
Partnerships like the ones that Algomi has been entering benefit both parties. The larger, well-established companies are seeking to diversify their businesses to gain some stability.
Events like the 2008 financial crisis have shaken up the financial world and companies now know that collaboration between cutting-edge financial technology companies and well-established financial institutions can be the way to stability.
Strategic investments like S&P Global’s in Algomi makes even moresense because they can improve their own businesses by utilising each other’s data and in the case of Algomi, software.
Algomi’s cutting edge technology
Algomi started life in 2012 as a software company that develops cutting-edge technology for fixed income traders. The company was founded by former UBS bankers and now has offices in London, New York and Hong Kong.
Their range of programs helps both buy-side and sell-side traders make better-informed decisions. They do this by harnessing artificial intelligence to analyse and interpret vast data sets.
Once analysed, this data is presented in an intuitive way to help the trader increase their pool of liquidity or make better trading decisions.
Commenting on their recent partnership, Douglas L. Peterson, President and CEO of S&P Global, said: “We think very highly of Algomi and are excited about the opportunity to bring our data, technologies and deep analytics into additional market segments. By partnering with Algomi, we will further leverage the power of big data and artificial intelligence to create even more opportunities to deliver value to our and Algomi’s customers.”
There are sure to be more companies seeking Algomi investment, so keep an eye on Algomi.