Markit Co-Founder Rony Grushka Joins Algomi Board of Directors

Algomi, an information network for fixed income trading and liquidity, announced today that Rony Grushka has joined its board with immediate effect.

Rony Grushka

Grushka is Algomi’s latest appointment and follows the earlier this year.

He joins the company from Markit Group where, as a co-founder of the company, he played a major role in building it into a world-respected financial information company.

During his thirteen years there, his roles included the Global Head of Corporate Strategy, CFO, membership of the Executive Management Committee and Secretary to the Board of Directors. He also led and managed the IPO of the company on the NASDAQ.

Commenting on the appointment, Michael Schmidt, Chairman of Algomi, said: “Nobody knows the data business, and the correct path to follow when dealing with sensitive information in OTC markets, better than Rony. We are honoured to have him join the board of Algomi and look forward to receiving Rony’s guidance as we develop the next stage of our strategy, building on our recent success launching our SaaS version of Synchronicity to the sell-side.”

Nobody knows the data business and the correct path to follow when dealing with sensitive information in OTC markets better than Rony.

Algomi’s approach to addressing scarce liquidity in corporate bond markets has led to its success in attracting buy and sell-side firms to its two main products – Synchronicity for the sell-side, and its Honeycomb network for the buy-side.

Algomi helps banks create a virtual balance sheet based on actual bond data, including trade information, enquiries, and holdings, and lets buy-side firms see this validated virtual balance sheet at the bank – an insight that is not available elsewhere.

Grushka added: “Algomi’s ecosystem of private information management tools is a unique and very innovative integrated data framework connecting banks, exchanges and investment management firms. Given the rapid evolution of regulation and market structure, Algomi’s solutions for market participants allows it to respond to the challenges the industry is facing, and I look forward to being part of the team.”

Grushka is a board member of of BondIT, a Bond portfolio building platform. Formerly, he was a special advisor to General Atlantic Private Equity Group. He is currently a Governor of the London School of Economics.

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