Exchange operator Euronext has cemented its close ties with technology provider Algomi by purchasing a minority stake for $10 million.

The investment comes after the pair set out plans in November 2016 to create a new trading facility for European corporate bonds to help boost liquidity in the market. According to a March 3 statement, the new corporate bond venue is to launch by the third quarter, and the existing partnership will be expanded to encompass a new network of fixed income venues globally.