LONDON & NEW YORK--(BUSINESS WIRE)--The last name of Rony Grushka in the headline and in the first paragraph
has been corrected.
The corrected release reads:
MARKIT CO-FOUNDER RONY GRUSHKA TO JOIN ALGOMI BOARD OF DIRECTORS
Algomi, the network company providing information-matching solutions for the optimisation of fixed income liquidity, today announced Rony Grushka joined its board with immediate effect.
Rony was a co-founder of Markit Group and played a major role in building it into one of the world’s most highly respected financial information companies. Over thirteen years, his roles included the Global Head of Corporate Strategy, CFO, membership of the Executive Management Committee and Secretary to the Board of Directors. He led and managed the IPO of the company on the NASDAQ.
Algomi’s innovative approach to addressing scarce liquidity in corporate bond markets has led to its success in attracting buy and sell-side firms to its two main products – Synchronicity for the sell-side, and its Honeycomb network for the buy-side. Algomi helps banks create a virtual balance sheet based on actual bond data – including trade information, enquiries, and holdings – and lets buyside firms see this validated virtual balance sheet at the banks. This information and distribution insight is not available anywhere else.
Michael Schmidt, Chairman, Algomi said "Algomi's ability to give our customers an insight into their data is unrivalled. Nobody knows the data business, and the correct path to follow when dealing with sensitive information in OTC markets, better than Rony. We are honoured to have him join the board of Algomi and look forward to receiving Rony’s guidance as we develop the next stage of our strategy, building on our recent success launching our SaaS version of Synchronicity to the sell-side."
Rony Grushka added, "Algomi’s ecosystem of private information management tools is a unique and very innovative integrated data framework connecting banks, exchanges and investment management firms. By connecting market participants in a way not previously possible, it facilitates realtime insight, on how, when and with who, to execute less liquid instruments, and how to align risk appropriately. Given the rapid evolution of regulation and market structure, Algomi's solutions for market participants allows it to respond to the challenges the industry is facing, and I look forward to being part of the team."
He is a board member of BondIT, a Bond portfolio building platform. Formerly, he was a special advisor to General Atlantic Private Equity Group. He is currently a Governor of the London School of Economics. Rony holds accounting and finance degrees from the LSE and Tel Aviv University.
Currently Algomi has over 200 buyside and 16 banks signed up, and services customers from its offices in London, New York and Hong Kong.
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Notes to Editors
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 network of salespeople and traders, using their own data, external aggregators and other sources; enabling banks to identify the best trade opportunities and to generate efficient collaboration between traders, salespeople and a discreet dynamic connection to their universe of investor clients and interbank parties
For portfolio managers, execution desks and compliance teams, Algomi Honeycomb turns complex data systems into actionable knowledge, helping investors trade with increased speed and success. Honeycomb sets a new standard in the way dealers market to the buy-side, recognizing that their value is now derived from their distribution network not their balance sheet. This provides the buy side firm with a unique and powerful display of information on their portfolio. Honeycomb provides the data and market insight vital to selecting the right banks and the right time to trade. The investor is able to deal in size, seek best execution, and remain discreet in the market. 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 140 employees with offices in New York, London and Hong Kong. email@example.com