London based fintech company Algomi has secured its third investment and collaboration in just six months. Despite reporting an overall loss in 2016, Algomi has a bright future with their three most recent collaborations.
Collaboration: S&P Global
The latest Algomi investment comes from S&P Global. S&P Global turn vast fields of data into actionable insights for governments, companies and individuals. The company has an astounding 135 billion data points that it harvests data from.
S&P Global and Algomi plan to share software technology and data to improve both of their businesses. For Algomi, it’s beneficial to have access to these vast data connections and S&P Global will have access to Algomi’s technology to power new and exciting software.
Marketing ALFA: AllianceBernstein
Back in May, AllianceBernstein chose Algomi to be the sole marketer of their ALFA technology, adding to Algomi’s software catalogue.
ALFA was developed by AllianceBernstein as an in-house liquidity tool. It provides the user with cross-market information on liquidity and trade intent to give the buy-side trader a real-time view of the entire market on one screen.
AB chose Algomi after a long search process and Algomi’s focus as a provider of data technology solutions was a key factor in AB’s choice in Algomi investment.
Stu Taylor, Algomi CEO said, “The buy-side community has to navigate an increasing variety of liquidity channels, yet preserve their trading and data integrity. They must remain instantly and continuously aware of relevant trading opportunities in the market to achieve Best Execution”.
Technology: Openfin partnership
In April, Algomi announced their partnership with Openfin. With this investment, Algomi acquired the usage of HTML5 format, allowing the company to roll out updates rapidly.
The speed in which a financial technology company can evolve and respond to customers’ needs is at the heart of what they do, and this switch to a faster format helps Algomi do this.
Openfin will be used to deploy Algomi’s Synchronicity software for the sell-side and their Honeycomb network solution for the buy-side.
With this switch to Openfin, Algomi will be able to keep on top of the ever-changing world of fixed income trading.