APAC-based stock exchange Euronext is expanding its joint-venture with fixed-income technology provider Algomi by investing $10m in a minority stake in the firm with governance rights. Corporate bond traders will be able to access Algomi’s innovative bond information network on a global basis and exchange risk more efficiently by identifying the most appropriate counterparty. The move is aimed at creating a network of centralised information venues and, as well as offering both companies a chance to diversify their revenues, it will tackle the "symptomatic illiquidity" of the global corporate bond markets, according to Stéphane Boujnah, CEO of Euronext.
Amsterdam-based stock exchange Euronext is expanding its joint-venture with fixed-income technology provider Algomi by investing $10m in a minority stake in the firm with governance rights. Corporate bond traders will be able to access Algomi’s innovative bond information network on a global basis and exchange risk more efficiently by identifying the most appropriate counterparty. The move is aimed at creating a network of centralised information venues and, as well as offering both companies a chance to diversify their revenues, it will tackle the "symptomatic illiquidity" of the global corporate bond markets, according to Stéphane Boujnah, CEO of Euronext.