Companies around the world are looking to diversify into different markets. Most recently, UK-based financial company Algomi scored a $10 million investment from pan-European stock exchange Euronext.
Along with their Algomi investment, Euronext has recently had a chain of investments, being referred to as an acquisition spree. They have snapped up companies in varying sectors from foreign exchange markets, with the acquisition of FastMatch, to Algomi’s software that can be used to their advantage.
Euronext made the wise decision to put their money in Algomi investment not just because of the potential financial gain in Algomi itself, but because Euronext can implement Algomi´s technology into their daily operations. Euronext´s $10million investment bought them a seat on the board of directors over at Algomi, as well as a 10-year plan to develop software that Euronext can use.
Software to change the economic landscape
Algomi has been making waves in the trading world since its inception in 2012, winning awards for innovation, having the best products, and succeeding as a start-up fintech. Euronext obviously saw this success story and put their faith in Algomi, trusting that they will deliver a product that will not only be profitable when sold, but can be implemented by their own company to make more profitable trades.
Algomi´s effectiveness comes from its whole network of software. Each of Algomi´s programs links to the others to provide and analyse huge amounts of anonymous data. As Algomi manages programs from both the buy-side and sell-side of bond trading, it can work for both sides at the same time, enriching each trader’s experience and trades. Algomi’s Synchronicity program links together with Honeycomb and Euronext Synapse.
This sharing of data allows both sides to make better trading decisions by concisely and clearly displaying the information from huge data sets for traders on both sides to see.
The future is bright for Algomi
In just 5 short years Algomi has made major waves in the trading community. It has entered into many lists of top fintech companies to keep looking out for, and rightfully so. Watch this space for more news on Algomi investment.