Symphony blog

At Symphony, our job is to provide you with the capabilities to be more effective in your role. Through us, you can glean better insights from more of your data. We believe technology should empower the individual and company, helping you create a competitive advantage.

The Finance community is struggling to adapt to a rapid evolution in communication practices. Technology has altered how clients and colleagues want to interact with one another.

This week we explored the topic of “Circular Economy” as it had the largest increase across sectors over a 365-day period compared to the previous 365 days. Specifically, ESG topics of “Waste,” “Recycling,” and “Circular Economy” in our Pollution Management Event Type have seen large increases across news, earnings calls, and filings.

More than ever before, business success depends upon an organization’s ability to communicate quickly and effectively. It’s clear that the “workplace” has radically changed. This new landscape demands three things from every company’s communication tools:

In December of 2021, SIFMA, ICI and DTCC called for the shortening of the settlement cycle in the U.S. financial markets from T+2 (transaction date plus two days) to T+1 (transaction date plus one day) within the first half of 2024. Their report indicates that accelerating the settlement process will “reduce risks and costs for the industry while building upon the benefits achieved in the successful move to T+2 in 2017.” This is in line with the Securities and Exchange Commission’s announcement on Feb 9, 2022 of a proposed rule to shorten the standard settlement cycle for most broker-dealer transactions from two business days after the trade date (“T+2″) to one business day after the trade date (“T+1″), while soliciting comments regarding challenges and possible approaches to achieving settlement by the end of trade date (“T+0″).

In our journey building an event mesh, we face the challenge of reconciling with Symphony’s engineering history. Specifically, we are transitioning from a single-tenant, monolithic architecture to a multi-tenant, microservice architecture. And critically, due to the nature of our business, this shift must be both progressive and smooth.