Stéphane Boujnah, Euronext
Euronext has announced the global expansion of its Joint Venture and a $10 million investment in a minority stake in fixed income technology provider, Algomi.
The initiative aims to create a network of centralised information venues, turning disparate data into trade opportunities between counterparties whilst maintaining the current client-to-dealer market structure.
Corporate bond traders will be able to access Algomi's bond information network and exchange risk more efficiently by identifying the most appropriate counterparty.
Euronext also intends to establish an Automated Trading System (ATS) in North America, while discussions are already under way in APAC.
As part of the partnership, Paul Humphrey, Head of Fixed Income, Rates & FX at Euronext, will join the Board of Directors of Algomi.
Stéphane Boujnah, CEO of Euronext said: " Algomi's cutting edge technology, combined with Euronext's established position in the market place, will enable us to further diversify our revenues and capture selected opportunities arising outside of Europe, whilst tackling the symptomatic illiquidity of global corporate bond markets in partnership with our clients."