Algomi, a firm which helps investors make fixed-income trades in a market that has been hit by new regulations, is planning to launch in the US next year and has hired Stephen Gallagher, a 30-year credit market veteran, to lead the expansion.

The firm, which is already operational in Europe, is one of a number to offer new trading solutions created in response to the decline of corporate bond inventory held by the sellside. The decrease has meant institutional investors need to find alternative ways to hunt for liquidity in the bond market.