Algomi review: Rapid expansion

London-based fintech company Algomi has bagged its third investment in just six months. In a previous Algomi review, it was reported that the company made an overall loss in 2016, but the future looks bright with these three new collaborators.

April: Openfin technology boost

Algomi’s first acquisition this year came from Openfin. Algomi invested in Openfin to access their HTML5 format, allowing the company torapidly roll out updates to its Synchronicity and Honeycomb products.

The rate that financial technology companies change and evolve according to customers’ needs is at the heart of what they do. Algomi’s new usage of the HTML5 format provided by Openfin will allow Algomi to stay on top of their customers’ needs.

Openfin will be used to deploy Algomi’s Synchronicity for sell-side traders and their Honeycomb network for buy-side traders.

May: ALFA and AllianceBernstien

Just a month later, Algomi became the sole marketer of AllianceBernstein’s ALFA technology, now called Algomi ALFA. This expanded Algomi’s software catalogue.

ALFA was originally developed by AllianceBernstein as an in-house liquidity tool. It provides the user with cross-market information on trade intent and liquidity to give the buy-side trader a real-time view of the market as a whole, all on one screen.

This is a great tool for the buy-side trader who needs to see the whole market to gain a bigger picture.

AllianceBernstein chose Algomi after a long search process and review. Algomi’s focus as a provider of data technology solutions was a vital factor in AB’s choice in Algomi.

Stu Taylor, Algomi CEO said, “The buy-side community has to navigate an increasing variety of liquidity channels yet preserve their trading and data integrity. They must remain instantly and continuously aware of relevant trading opportunities in the market to achieve Best Execution”.

September: S&P Global collaboration

The latest investment for Algomi came from S&P Global. S&P Global turns vast fields of data into actionable insights for governments, companies and individuals. The company harvests its data from an amazing collection of 135 billion data points.

S&P Global and Algomi plan to share data and technology to improve both of their businesses.

Keep an eye out for another Algomi review. This company is clearly one to watch.