Algomi is rolling out its sell-side engine, Synchronicity, as a Software as a Service (SaaS) solution. This has been developed in collaboration with banks to enable improved liquidity in the global corporate bond markets for the widest possible group of dealers. It delivers an actionable Virtual Balance Sheet and the same range of features available on the installed version of the platform, and connectivity with buy-side clients through Algomi’s Honeycomb network.

Alongside the SaaS roll-out, all Honeycomb network participants will now have access to open source FIX connectivity. Usman Khan, Algomi co-founder and CTO, comments: “These developments are further proof of how Algomi is continuing to bring real innovation to fixed income markets for both the sell-side and buy-side. The SaaS solution greatly lowers the time required for on-boarding, reducing the time to market. This, coupled with the greatly reduced requirement for internal resources, means that Synchronicity SaaS removes the challenges of technology adoption, while enabling banks to maximise their effectiveness in the market. Our customers will also now be able to have true bi-directional FIX connectivity in a secure and confidential way that goes beyond the simple point-to-point connection provided by FIX alone.”