Investment management firm Octopus has invested £1.6 million in Vega-Chi, an electronic trading platform dedicated to European convertible and high-yield bonds.
Vega-Chi enables institutional investors to trade convertible and high-yield bonds directly with each other without having to go through intermediaries, providing an alternative pool of liquidity.
Launched last February by Constantinos Antoniades, it has already received orders in excess of $20 billion and now claims 65 participant firms. The Octopus money will be used to expand its products and regional footprint in electronic trading for fixed income products.
Jo Oliver, Octopus, says: "Vega Chi's platform applies a disruptive technology to a very large, inefficient market. It is run by an exceptional entrepreneur and has the potential to dramatically change the way these securities are traded internationally."