NEW YORK, Sept. 12, 2017 /PRNewswire/ — S&P Global (NYSE: SPGI), a leading provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets, today announced it has formed a strategic partnership and taken a minority stake in Algomi, a fintech company with offices in New York, Hong Kong and London. Algomi is the second minority fintech investment this year for S&P Global, following its stake in Kensho. S&P Global will have a seat on the Algomi board.
Algomi is an innovative fintech company that has created a bond information network that enables buy side and sell side firms, as well as exchanges, to harness data to improve financial trading decisions via greater transparency and artificial intelligence-powered trade facilitation. S&P Global’s partnership with Algomi will help facilitate product collaboration and enable future business expansion.
“We think very highly of Algomi and are excited about the opportunity to bring our data, technologies and deep analytics into additional market segments,” says Douglas L. Peterson, President and CEO of S&P Global. “By partnering with Algomi, we will further leverage the power of big data and artificial intelligence to create even more opportunities to deliver value to our and Algomi’s customers.”
Algomi’s technology empowers fixed income professionals to fulfill their targeted informational needs on both sides of a transaction by maximizing the relationships between salespeople, traders and investors over a suite of scalable software. Algomi’s technology greatly increases the opportunities and velocity in larger and less liquid corporate bond trades between banks, institutional investors and exchanges.
“We are delighted that S&P Global has agreed to work with us and share their phenomenal experience in developing our products and managing critical market data. We are also very pleased they have seen the significant potential of Algomi and how strongly we are growing to make an investment in the firm,” says Stu Taylor, Algomi co-founder and CEO.
About S&P Global
S&P Global is a leading provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets worldwide. The Company’s divisions include S&P Global Ratings, S&P Global Market Intelligence, S&P Dow Jones Indices and S&P Global Platts. S&P Global has approximately 20,000 employees in 31 countries. For more information visit www.spglobal.com.