Algomi ALFA Extends to Liquidnet, Trumid
ALGOMI ALFA DELIVERING ACTIONABLE LIQUIDITY WITH LIQUIDNET AND TRUMID
NEW YORK (June 18, 2019) – Algomi, which provides data aggregation technology for the optimization of fixed income liquidity, today announced Algomi ALFA will enable orders to be executed on Liquidnet and Trumid.
With this new functionality, Algomi ALFA goes beyond aggregating market data and liquidity to allow traders to efficiently navigate the markets and execute trades without duplicating steps across platforms. For actionable liquidity alerts, Algomi ALFA enables order staging and desktop interoperability.
Algomi ALFA allows traders to engage with Liquidnet’s growing corporate bond liquidity on any actionable alert, by populating orders directly from ALFA before sending to Liquidnet via FIX. Liquidnet subsequently launches an active negotiation window to traders from its desktop application. Once the trade is completed, traders can view and export the execution report from ALFA.
For Trumid, traders can engage with all Trumid actionable alerts from within Algomi ALFA, through Algomi’s graphical user interface and using the OpenFin message bus. When a trader engages with an alert in Algomi ALFA, Trumid displays the appropriate dialogue, depending on the current state of the trader’s activity and bond’s activity on Trumid. The trader then engages directly within Trumid.
Scott Eaton the CEO of Algomi said “As a market neutral provider, we are delighted to announce this initiative with Liquidnet and Trumid. Fund managers can now easily action and execute decisions based on the front-end data aggregation we provide. This is a major step in creating an efficient workflow process that leads to trading with increased speed, improved liquidity and efficiency in the market.”
Constantinos Antoniades, Global Head of Fixed Income at Liquidnet, said “This additional workflow makes it easier for our Members to both consume and react to liquidity alerts from our Virtual High Touch ecosystem directly on Algomi ALFA. We are very pleased to continue to work closely with Algomi to help develop innovative features that create efficiencies for our Members and help improve access to greater liquidity.”
“As a company focused on trading efficiency and market intelligence, we are happy to be working with Algomi to provide additional workflow solutions for our shared clientbase,” said Mike Sobel, President of Trumid. “This initiative allows Algomi ALFA users to easily engage with the large Trumid network and liquidity pool.”
Demand for data that can help decipher the impact of Covid- 19 remains in high demand.
The adoption of cloud environments, particularly for the front office, is gaining pace.
Group has buy-in from AWS, Google Cloud, IBM Cloud, Microsoft Azure, and more than 20 financial firms.
The ISDA-Clarus RFR Adoption Indicator shows monthly RFR trading activity in interest rate derivatives.
There is a cultural acceptance that behavioural analytics is a ‘must have’.