Euroclear takes stake in fixed income tech provider Algomi
Euroclear Algomi develops and markets software for the fixed-income market which connects potential counterparties by identifying likely interest with available inventory. The company focuses on banks, institutional investors, inter-dealer brokers and exchanges.
Peter Golder, CEO of EIS, says: “Our investment in Algomi is driven by client demand to access untapped liquidity pools.”
Financial details were not disclosed. However, EIS says through the data aggregation tool, Algomi ALFA, counterparties can access the Euronext Synapse Multilateral Trading Facility and will be able to query those bond holdings, allowing them to trade in the securities.
By making this investment, EIS states that it “will increase trading opportunities and consequently transaction volumes” in the illiquid pool of fixed income securities, including corporate and government bonds, not only for Euroclear clients, but across the fixed income market.
Euroclear joins earlier investors including stock exchange Euronext, asset manager AllianceBernstein and index provider S&P Global.