Algomi, a software developer for the fixed-income market, has received an investment from Euroclear’s data and information business Euroclear Information Solutions (EIS).
Through the investment, EIS will be able to utilise Algomi’s bond liquidity matching system by making select bond holdings information available anonymously. With a data aggregation tool, counterparties will be able to access Euronext Synapse Multilateral Trading Facility and query the bond holdings, allowing them to trade in securities.
This deal will increase EIS’ trading opportunities and transaction volumes in the income securities space, which includes corporate and government bonds.
Euroclear is a post trade services provider for the financial industry, providing settlement, safe-keeping and servicing of domestic and cross-border securities for bonds, equities and derivatives to investment funds.
Algomi designs software for the fixed-income market that connects potential counterparties by identifying interest with available inventory. Its services are used by banks, institutional investors, inter-deal brokers and exchanges.
Algomi CEO Scott Eaton said, “In Euroclear, we have a partner who understands the value of information and the importance of improving liquidity in the fixed income market. This is further recognition by a major market player of our strategy and technology.
“Combined with earlier deals, this gives us a global platform to unlock previously untapped resources in bond market liquidity. We look forward to welcoming Euroclear to the Algomi board and to working closely with them as we further develop our market aggregation and data surveillance offering to our clients.”
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