By adding the new functionality, Algomi’s platform ALFA will now go beyond aggregating market data and liquidity to allow traders to execute trades without duplicating steps across platforms.
The partnership with Liquidnet will allow traders to engage with corporate bond liquidity on any actionable alert, by populating orders directly from ALFA before sending to Liquidnet via FIX, which then opens an active negotiation window to traders from its desktop application. Once the trade is completed, traders can view and export the execution report from ALFA.
The partnership with Trumid allows traders to engage with all Trumid actionable alerts from within Algomi ALFA, through Algomi’s graphical user interface and using the OpenFin message bus. When a trader engages with an alert in Algomi ALFA, Trumid displays the appropriate dialogue, depending on the current state of the trader’s activity and bond’s activity on Trumid. The trader then engages directly within Trumid.
Scott Eaton, Chief Executive Officer at Algomi, commented:
“As a market neutral provider, we are delighted to announce this initiative with Liquidnet and Trumid. Fund managers can now easily action and execute decisions based on the front-end data aggregation we provide. This is a major step in creating an efficient workflow process that leads to trading with increased speed, improved liquidity, and efficiency in the market.”
Constantinos Antoniades, Global Head of Fixed Income at Liquidnet, said:
“This additional workflow makes it easier for our Members to both consume and react to liquidity alerts from our Virtual High Touch ecosystem directly on Algomi ALFA. We are very pleased to continue to work closely with Algomi to help develop innovative features that create efficiencies for our Members and help improve access to greater liquidity.”
Mike Sobel, President of Trumid, commented:
“As a company focused on trading efficiency and market intelligence, we are happy to be working with Algomi to provide additional workflow solutions for our shared client base. This initiative allows Algomi ALFA users to easily engage with the large Trumid network and liquidity pool.”
In 2018, Euronext acquired a $10 million minority stake investment in fixed income technology provider Algomi.
