European banks share bond data with matchmaker Algomi
London
SOME of Europe's biggest lenders have opened their doors for a former UBS Group AG executive to install an internal search machine that tracks availability of their bonds - especially the ones people rarely trade.
HSBC Holdings plc, Deutsche Bank AG and Credit Suisse Group AG are among 14 banks that have agreed to use the system developed by Algomi Ltd, according to co-founder Stu Taylor. It lets banks give access to their pre-trade data to fund managers who want to discreetly identify who owns corporate or government bonds that are not widely traded.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Japanese yen slides back towards 34-year low after brief spike
China’s Bank of Communications Q1 profit rises 1.44%
HSBC’s private bank shuts independent asset management business in HK, Singapore
Nomura Q4 net profit jumps almost eight-fold on retail income surge
Rescue pup to meme star: the real-life ‘Dogecoin’ dog
Money laundering accused Zhang Ruijin slapped with 5 more charges days before scheduled guilty plea