Algomi Opens New Americas Headquarters in New York

Flagship offices to host expanded client services, technology specialists for growing market

NEW YORK--(BUSINESS WIRE)-- Algomi, the network company providing information-matching solutions for the optimisation of fixed income liquidity, today announced the opening of a new office in New York. The company signed a long-term lease for the entire 28th floor of the Charles S. Cohen’s Tower 57 at 135 East 57th Street.

The new office provides additional space to service Algomi’s growing customer base in the Americas. Founded just three years ago, Algomi now works with more than 120 buy-side clients and 11 sell-side banks, including the recent signing of a leading US head quartered investment bank.

Over 140 people work for Algomi worldwide, and there is capacity for 35 employees in the New York headquarters. The company continues hiring for its American operations, with a particular emphasis on technology professionals and client service specialists. Algomi plans to develop additional solutions designed to meet the specific needs of the American market, in addition to providing local support for its bond information service.

Algomi’s Honeycomb Network allows investment firms to see which dealer is best placed to facilitate illiquid corporate bond trades without disturbing the markets and having the price move against them. Algomi is continuing to add 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.

“As the largest single fixed-income market globally, the United States is a priority for the majority of clients. We have had on the ground presence here for more than two years,” said Algomi CEO Stu Taylor. “From our new headquarters, we will continue to provide excellent service and nimbly respond to market and client challenges, all designed to help continue our mission of providing additional liquidity through increased information.”

The office will be led by Steve Gallagher, the head of Algomi’s U.S. operations. Algomi’s co-founders and leadership are also spending additional time in the New York market.

“We look forward to having our current and future clients come visit our stunning new offices,” Steve Gallagher said. “This new facility is a testament to the business we’ve grown in the States and our ambition to be even bigger and better in the future. We really want to show you what’s next.”

ABOUT ALGOMI LTD

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 140 employees with offices in New York, London and Hong Kong, and client support and sales in Chicago, San Francisco, and Boston. [email protected]

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View source version on businesswire.com: http://www.businesswire.com/news/home/20150930005950/en/

PRESS:
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Jon Schubin, 646-395-6300
or
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Source: Algomi

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