Algomi, recently announced their collaboration with IPC systems, a highly reputed financial markets technology and service provider. Together they are developing DealCall, which will be incorporated in their Honeycomb network.
As part of their Honeycomb network, DealCall will use IPC’s Financial Markets Cloud to enable unified voice communication for the buy-side clients of this Algomi investment innovation. By doing this, they expect to bring voice trading right into the 21st century.
Algomi: our story
Algomi is a Fintech company that develops and provides software solutions for fixed-income market data. Through our award-winning data tool, Honeycomb, we links the buyers and sellers in a collaborative network.
Honeycomb, as well as Synchronicity, our newest innovation for the sell-side, have facilitated more effective bond trading immensely by providing accurate information to prospective buyers and sellers. Nonetheless, a recent study by consultancy Greenwich Associates, found that investment in technology for buy-side trading desks fell from 36% in 2014 to 31% in 2015. This means that although voice trading is essential, especially for big deals, old-fashioned phone broking isn’t as effective anymore.
Nowadays, buyers and sellers prefer sourcing liquidity and intelligence elsewhere – especially over online networks such as Honeycomb. This is why they partnered with IPC, to create DealCall for more efficient voice broking.
DealCall
DealCall technology will be developed by IPC, but will be incorporated into Honeycomb. Essentially, with one click, buyers will be able to connect to their dealer of choice easily and more importantly, safely. This way, productivity and efficiency between communications will be promoted as users will be able to communicate directly with the dealer of their choice using either instant voice connection or instant messaging.
Neil Barua, CEO of IPC stated that “We are very excited to be collaborating with Algomi. The successful implementation of DealCall on the IPC Financial Markets Cloud means Honeycomb network participants can work with their counterparts on large sensitive trades in an efficient and secure manner.”
By uniting the diverse IPC community of over 6000 market participants and Algomi’s clients, DealCall will create a secure and ideal environment for optimal voice trading in the future.