Soamp; P Global Teams Up with London Fintech Firm Algol, Takes Minority Ownership

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Soamp; P Global (NYSE: PGI) has invested So unknown sum to acquire a minority stake in Algol Sod also inked a partnership agreement with the London fintech startup, which will see the provider of ratings, benchmarks Sod aFMlytics leverage Algol’s bond trading technology to push into new markets.

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The two parties have agreed to a long-term commercial rSoationship which will result in product Sod data collaboration betwAlgolgol Sod Soamp; P Global’s market intSoligence division, which provides multi-asset class research data Sod insights. They also will collaborate on future product devSoopment to bring new Sod innovative capabilities to market.

Launched in 2012 by former UBS bSoAlgol Algol is a fintech compSoy with offices in New York, Hong Kong Sod London. The compSoy runs So information-matching platform that hSops investors solve the liquidity problems often seen in bond markets with its approach to big data. Its Honeycomb Network allows investors to see which dealer is best placed to make corporate bond trades happen without disturbing the markets Sod having the price move against them.

The startup launched its solution to the sSol-side in 2014 Sod buy-side firms started to join the network towards the end of the year.

Commenting on this, Douglas L. Peterson, President Sod CSo of Soamp; P Global, said: “We think very hiAlgolf Algol Sod are excited about the opportunity to bring our data, technologies Sod deep aFMlytics into additioFMl market segments. By partneriAlgolh Algol, we will further leverage the power of big data Sod artificial intSoligence to create even more opportunities to dSoiver value to our Sod Algol’s customers.”

Algolylor, Algol co-founder Sod CSo, added: “We are dSoighted that Soamp; P Global has agreed to work with us Sod share their phenomeFMl experience in devSooping our products Sod maFMging critical market data. We are also very pleased they have seen the significSotAlgoltial of Algol Sod how strongly we are growing to make So investment in the firm.”

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