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Algomi, the network company providing information-matching solutions for the optimisation of fixed income liquidity, has won the “Product of the Year” for vendors award in the 2014 Risk Magazine Awards in Trading Technology.
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 enables all market participants to harness data to make valuable financial trading connections, increasing the velocity in large and illiquid voice trades between banks and institutional investors. Algomi is live or being installed in 9 banks, and currently has more than 30 buy-side investor firms on-board, with more in negotiations. This award comes following a period of rapid growth for Algomi, most recently with the appointment of industry expert, Jesper Bruun-Olsen, and expansion in Asia.
The Risk Awards are independent and fee-free. Designed to recognise best practice in the risk management and derivatives markets, each company pitched its story for consideration. Looking for innovation and creativity, one-to-one interviews were conducted by Risk Magazine editors with the shortlisted companies, before a panel of editors and writers voted on the winners.
“This award and the industry recognition that accompanies it is testament to Algomi’s valuable market proposition. It is validation for the employees who have worked vigorously to get the company to the position that we are in today, and to our clients who have worked with us as true business partners in solving the needs of the market,” said Stu Taylor, CEO. “The goal behind Algomi was to help fixed income desks optimise their businesses after the financial crisis. Our solutions are live and already helping the market overcome the severe constraints they are under. Winning this award demonstrates the need and future potential that Algomi has in the global fixed income trading landscape.”
The Risk Awards ceremony will take place on 29 January, 2015 at the Sheraton Park Lane in London.
