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Expansion   An Automated Trading System

Euronext invests in Algomi and expands joint venture globally

EuronextEuronext announced the global expansion of its joint venture and a $10 million investment in a minority stake in leading fixed income technology provider, Algomi.

This strategic investment, which follows the agreement of a joint venture between both companies, will enable corporate bond traders to access Algomi’s innovative bond information network on a global basis and exchange risk more efficiently by identifying the most appropriate counterparty.

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The global joint venture also involves working closely with regional exchanges and other partners to deliver holistic market access.

As part of this, Euronext is working to establish an Automated Trading System (ATS) in North America, while discussions are already under way in APAC.

Dealers will be able to access this network of venues either directly through their Algomi technology or through existing systems.

Investor firms will benefit from the improved liquidity and best execution that the participating dealers will be able to provide on demand.

The system is designed to maximise the range of eligible trades by minimising the potential leakage of crucial information.

This acquisition of a minority stake with governance rights reinforces the close links between the two companies and confirms Euronext’s ambitions in the fixed income space.

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