Radical new shifts in bond-market structure
Algomi, a firm founded in 2012 by Stu Taylor, Robert Howes and Usman Khan, who had previously worked together on the UBS PIN network for matching client orders, is now beta testing with 20 buy-side accounts a new product to link them into the internal networks of certain banks that grant permission. So a French client trying to buy VW bonds might leave an indication of interest with the biggest bank dealers. If some time later an Asian salesperson at one of those dealers gets a client interest to sell those VWs, an alert will now transmit through the bank in question and back to the French investor looking to buy. As such, it massively improves the odds for both end-clients and the bank in the middle.
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