The days of solely relying on traditional trading turrets and private wires are dwindling away. Filling that gap are cloud-based, API-driven trading platforms that are driving innovation, enabling firms to streamline workflows, and empowering access to a virtual trading floor that will very soon become the norm across the industry.
In the last year alone, there has been more adoption of cloud than in the ten years prior combined. The pandemic has been a key driver, although this transition was certainly underway prior to last March. When remote working began last March, every firm had to quickly transition to 100% remote – something that cloud-based trading solutions and APIs already enable.
Firms are not only more comfortable with data residing in the cloud but they are now more frequently coming to vendors for help. In fact, leadership at major banks and financial institutions is becoming more outspoken about the need for cloud.
Some customers are generating more than 300,000 voice trading recordings each month. Thanks to advanced APIs and natural language processing (NLP) technology, firms are able to capture the audio of these conversations with 99% accuracy. This not only simplifies the regulatory and compliance process but also delivers more actionable insights that elevate performance.
Two things are becoming very clear. The capabilities for firms to efficiently and securely conduct voice trading in the cloud are there. Firms are becoming far more comfortable using the cloud to access a virtual trading floor and with storing data there.
However, with the growing appetite – and the need – for cloud-based voice trading capabilities, therein lies a growing responsibility for the technology vendors to continue pushing the innovation curve and fuel the voice trading engine.
In this panel interview, Dafna Yanay from AWS speaks to Mario Orphanou, Senior Director of Product Management for Symphony, about the challenges of communication faced by the financial services industry and how organizations can drive better connectivity, growth and client engagement with the right solution.
In tech, as in life, it’s difficult to ‘prove a negative’ – show me that you can’t be hacked. This can only be demonstrated through highly principled and diligent business and technical practice. This is exactly how Symphony was established and still operates today – foundationally secure in design and in production.
Symphony celebrated its 10 year anniversary this past October. Our company has evolved significantly over the decade: we’ve strategically acquired companies; we’ve grown internationally, recently opening our latest office in Belfast; we’ve developed new products, partnered with leading technology providers and grown our product footprint across the financial services ecosystem, among much more.
