Algomi Wins “FinTech Innovation of the Year” in Euromoney’s Global Awards for Excellence
- IT Innovations
- 10.07.2015 01:00 am
Algomi, the network company providing information-matching solutions for the optimisation of fixed income liquidity, has won the “FinTech Innovation of the Year” in the 2015 Euromoney’s Global Awards for Excellence.
Launched in 2012, Algomi has focused on looking to solve the liquidity crisis seen in bond markets with its innovative approach to big data. Its Honeycomb Network allows investment firms to see which dealer is best placed to facilitate illiquid bond trades without disturbing the markets and having the price move against them. Honeycomb was launched to the sell-side in 2014 and buy-side firms started to join the network towards the end of the year.
This award comes following a period of sustained growth for Algomi, which now boasts 140 employees worldwide. Buyside clients, including leading hedge fund, asset management, pension fund, sovereign wealth fund and endowment firms, continue to be added to the network from offices in London, New York and Hong Kong, and client support and sales in Chicago, San Francisco, and Singapore. To date there are 11 banks installed and 75 buy-side firms installed on the Honeycomb network, with more coming online each week.
Euromoney’s Awards for Excellence cover more than 20 global product categories, best-in-class awards in all regions. The awards were established to recognise institutions and individuals that demonstrate leadership, innovation, and momentum in the markets in which they excel.
“This award and the industry recognition at a global level is verification of Algomi’s market proposition. It is not only validation of a solution that helps to solve a real industry problem, but demonstrates its need to the clients that have worked with us from the beginning and our employees who have helped to grow the firm to where it is today,” said Stu Taylor, CEO. “The ambition of Algomi was to give banks the ability to inject velocity into their balance sheets, while allowing the buy-side to shift bond inventory easily, without unsettling the existing market structure. The feedback from clients so far proves that Honeycomb is enabling that to happen. Winning this award confirms the need for and future potential of Algomi in the fixed income trading landscape.”
The awards were presented at the Natural History Museum in London yesterday evening at a Gala dinner.
For more on Algomi’s award win, visit: http://www.euromoney.com/Article/3469046/Awards-for-Excellence-2015-Best-financial-technology-innovation.html
For more information on Euromoney’s Global Awards for Excellence, visit: http://www.euromoney.com/Poll/3312/PollsAndAwards/Awards-for-Excellence.html