Algomi forges ahead
Algomi is looking to develop a voice enabled capability, as the network for matching bond buyers and sellers said its platform could possibly be developed for difficult trades in other asset classes.
Algomi was launched in 2012 to build a social network for the corporate bond market and recently celebrated its three-year anniversary. When Algomi started it built internal networks for banks to connect together staff who could help transact less liquid corporate bonds but the firm has since added asset managers to its Honeycomb network so they can easily and quickly find the best bank to execute large trades.
Stu Taylor, chief executive of Algomi told Markets Media: “So far 11 banks and 70 buy-side firms have signed up with more in the pipeline. We expect to have 100 buy-side firms on board later this year.”
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