LONDON--(BUSINESS WIRE)--Algomi Honeycomb has been named as ‘Product of the Year; and awarded ‘Best Buy-Side Newcomer’, at this year’s Buy-Side Technology Awards from Waters Technology.
Presented to Algomi for its Honeycomb network, which now has 140 buy-side firms committed and 14 banks live or being installed. Honeycomb is the only solution on the market that delivers buy-side firms with a unique and powerful display of information on their portfolio. For portfolio managers, it turns complex data systems into actionable knowledge, helping investors trade with increased speed and success. Honeycomb sets the new standard in the way dealers market to the buy-side.
Honeycomb introduces a new dimension of data, namely insight into bank distribution capability. Honeycomb displays the investor’s portfolio and planned transactions in a visually engaging, informative and intuitive form, by allowing the investor to view information shared with them from multiple sell side firms, without revealing their intentions until they are ready to open a communication channel.
Usman Khan, Algomi co-founder and CTO collected the award in London, and commented: “Honeycomb is an investor’s eyes and ears onto the world’s trading floors, connecting insight from inside the banks that is not available anywhere else. Only sophisticated technology is able to connect investors and salespeople without a ripple in the market. Algomi is the single solution on the market able to do this. It is an honour to receive this award and validation to the Algomi team that has been working relentlessly to develop the technology for our client’s needs.”
“Technology has a clear role to play in how well the complex bond market functions. It’s exciting to see such a rapid take-up of Honeycomb in buy-side firms. The speed that buy-side firms have committed to the Honeycomb network is a strong indication of the vitality of the data and market insight that it provides, meaning that all complex and fragmented data can be put to good use”, added Rob Howes, CIO and co-founder.
The Buy-Side Technology Awards recognise the industry’s leading technologies and vendors, voted for by five buy-side focused technology consultants and two of Buy-Side Technology’s editors. The ‘Product of the Year’ award was independently awarded to Algomi following consideration of all shortlisted companies across all 29 categories.
Algomi is continuously adding asset management, pension fund, sovereign wealth fund, endowment and hedge fund clients from offices in New York, London and Hong Kong, and client support and sales in Chicago, San Francisco, and Boston.
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Notes to Editors
ABOUT ALGOMI LTD
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Algomi connects fixed income professionals, empowering them to make better trading relationships, in the ever-changing landscape of capital, leverage and liquidity requirements. By harnessing the relationships between Fixed Income salespeople, traders and their clients, the Algomi Honeycomb suite of scalable software greatly increases the opportunities and velocity in large and illiquid voice trades between banks and buy side investors.
For banks, Algomi creates a real time internal sales and trading bond information network using their own data to identify the best trade opportunities and enables real-time collaborations between sales, traders and investors. This delivers more effective execution of less liquid bonds and integrates with Algomi Honeycomb. For investor firms, Algomi Honeycomb becomes their eyes and ears on the world's trading floors. Providing the data and market insight vital to select the right dealers and the right timing of the trade to ensure maximum likelihood of execution. The investor is able to deal in size, achieve Best Execution, and remain discrete in the market while banks get to use their large distribution network. Execution is voice based between investor and bank, as is appropriate for large sensitive trades.
Algomi was founded in 2012 by Stu Taylor (Former Global Head of Matched Principal Trading and creator of PIN-FI at UBS), Usman Khan and Robert Howes (Founders of CAPXD), and Michael Schmidt (Former Head of European Credit Trading and IB Board Member at UBS). Algomi is backed by investment from Lakestar, and an exceptional panel of Strategic Advisors. Algomi has over 120 employees with offices in New York, London and Hong Kong, and client support and sales in Chicago, San Francisco, and Boston. sales@algomi.com
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