In today’s turbulent economic climate, diversification is key to maintaining success. Euronext, the pan-European stock exchange is a prime example of a well-established market incumbent looking to diversify and doing so with Algomi investment.
Recently, Euronext has been on an acquisition spree, snapping up fintechs that could be useful to them and ventures that could leave them with a healthy profit. Euronext invested $10 million recently in Algomi, buying themselves a 10-year development plan and a seat on the board of directors over at Algomi.
Euronext very intelligently invested in a business that could impact their own line of work dramatically, with Algomi developing software that allows traders to make more viable and well-informed decisions.
Revolutionising trading: what Algomi does best
Algomi started out in London in 2012 and have won numerous prizes for innovative and exciting products. Euronext’s plan with Algomi is to develop a trading platform that improves liquidity in pan-European corporate bond trading.
This platform is to be launched this year, with further view to roll out a new network of fixed income venues globally, with Euronext breaking into the North American market for the first time.
Stu Taylor, co-founder and chief executive of Algomi, said: “Partnering with an established exchange to provide fixed income traders with a single resource for price discovery, trade execution and settlement on illiquid bonds is a major part of our mission to unlock liquidity.”
Away from Euronext, Algomi offers a range of products for different types of traders. A lot of Algomi’s efficiency comes from its whole network of programs, including buy-side traders and sell-side traders. Each program links to the other, sharing data completely anonymously, to the advantage of the data consumers.
Algomi investment in the future
Euronext is set to expand its 10-year licence with Algomi, securing the company’s future for years to come.
Algomi has been in many journalists fintech top 50 lists for years, marking it as one of the most innovative and exciting companies in the financial technology sector.
Check back here at fintechinvestmentreviews.com to keep up to date on Algomi’s new ventures and investment opportunities.