Cloud9 Chooses OpenFin to Empower “Virtual Trading Desks”

Cloud9 Chooses OpenFin to Empower “Virtual Trading Desks”

NEW YORK, July 1, 2020Cloud9 Technologies (“Cloud9”), a leader in cloud-based communications, has partnered with OpenFin, the operating system (OS) of finance, to streamline the deployment of Cloud9’s voice trading APIs for institutional traders. With a heightened focus on mobility and universal access to the virtual trading floor, Cloud9 and OpenFin are empowering the optionality and flexibility that firms are seeking in their daily workflows.

The partnership allows customers to seamlessly connect to Cloud9’s purpose-built voice collaboration platform. Internal applications as well as applications in the OpenFin ecosystem can easily tap into Cloud9’s robust voice metadata via API’s exposed on the OpenFin message bus. 

“As long-time supporters of both OpenFin and Cloud9, we view this strategic partnership as critically important to developing a more unified solution for the voice trading community. We look forward to a continued partnership with companies like OpenFin and Cloud9 to drive industry standards and collaboration to advance our digital capabilities, for both our own colleagues and our clients,” said Kester Keating, Head of US Investments at Barclays Investment Bank.

As the appetite for enterprise-wide voice trading solutions continues to grow across the institutional marketplace, the partnership of Cloud9 and OpenFin empowers and connects industry professionals both on and off the trading floor.

“The profile of today’s institutional trader is evolving and what they need is anytime, anywhere access without being tied down to a single trading desk,” said Brian Hunt, Chief Administration Officer and Head of Partnerships at Cloud9 Technologies. “By teaming up with OpenFin, we’re allowing individuals to easily work from the trading floor or from any remote location they choose.”

“The industry is working to adapt to the new work environment and Cloud9’s communication capabilities are needed now more than ever. Connectivity to the Cloud9 platform will help our many mutual customers improve productivity and streamline their workflows” says Mazy Dar, Chief Executive Officer and Co-Founder of OpenFin.

Cloud9 and OpenFin have expanded their businesses substantially over the last quarter. Since March 1, Cloud9’s user base has increased by over 50% while OpenFin runs over 1,200 applications at over 1,500 banks and buy-side firms.

About Cloud9 Technologies
Cloud9 Technologies is the leading voice communication and analytics platform designed for the unique needs of the financial markets. Cloud9 developed a solution that harnesses the voice communication talk path for the trading floor of the future – offering more functionality and analytic insight than legacy hardware at a fraction of the cost. Cloud9 connects counterparties across all asset classes via a cloud-based communication platform that eliminates the infrastructure and expense associated with legacy hardware and telecommunication-based solutions, with front-office focused data and transcription, purpose-built for the financial markets. For more information, visit www.c9tec.com.

About OpenFin
Move Fast. Break Nothing. OpenFin is the financial industry’s operating system, enabling rapid and secure deployment, native experience, and desktop interoperability. Used by the largest industry players through to the newest of FinTech innovators, OpenFin deploys more than 1,200 desktop applications to more than 1,500 buy-side and sell-side firms. OpenFin investors include Bain Capital Ventures, Barclays, DRW Venture Capital, HSBC, CME Ventures, J.P. Morgan, NYCA Partners, Pivot Investment Partners, and Wells Fargo among others. The company is based in New York with offices in London. For more information, visit https://openfin.co.

MEDIA CONTACTS
For Cloud9:
P.J. Kinsella
EVP, Media Relations, Paragon PR
pj@paragonpr.com
+1.646.558.6226

 For OpenFin:
Mark Dowd
Managing Partner, Forefront Communications
mdowd@forefrontcomms.com
+1.212.320.8982

Cloud9 Completes $17.5M Series B Funding Round Led by Strategic Investment from UBS

Cloud9 Completes $17.5M Series B Funding Round Led by Strategic Investment from UBS

Support by global banking powerhouses highlights demand for ‘virtual trading floor’ tools to ensure workflow efficiency during COVID-19

 NEW YORK, June 4, 2020Cloud9 Technologies (“Cloud9”), a leader in cloud-based communications, has completed a $17.5 million Series B funding round led by a strategic investment from UBS, with participation from existing investors including J.P. Morgan and Barclays. Agility, mobility, and resilience have come into sharp focus at financial institutions, accelerating demand for flexible remote working tools on and off the trading floor and increasing the adoption of the industry’s only fully cloud-based voice communications solution.

Cloud9 has seen new business increase by over 50% since March, as it has onboarded several of the world’s top global banks and investment management firms. The growing client demand reflects an increasing need for ‘anytime, anywhere’ access to a virtual trading floor and highlights the inherent benefits of an integrated, cloud-based environment.

“Our decision to invest in and partner with Cloud9 makes sense for many reasons. Not only are we committed to equipping our own traders with tools for seamless and agile communications – even more relevant today during the current COVID-19 crisis – but also because we see many benefits to a cloud-based environment and the data insights that come with it,” said Lee Fulmer, Global Head of Innovation Lab at UBS Investment Bank.  Lee will join Cloud9’s Board of Directors this year. Fulmer is responsible for UBS Investment Bank’s innovation agenda, including the deployment of new third-party solutions that can enable enhanced performance through data and analytics.

 

“We have been strong supporters in Cloud9’s vision for cloud-enabled voice trading,” said Michael Elanjian, Head of Digital Innovation, Corporate & Investment Bank, J.P. Morgan.  “We’re at a turning point in how technology is transforming trading floors and Cloud9 is playing a critical role in the evolution of voice trading.”

 

“Whether it’s working from an office or from home, traders and financial institutions want optionality and that’s what we’re providing. The transition to a virtual, cloud-based trading floor is accelerating as the industry recognizes the importance of a more flexible and intelligent voice communications model,” said Jerry Starr, Chief Executive Officer at Cloud9.

Broadhaven Capital Partners served as financial advisor to Cloud9 and Kluk Farber Law served as legal counsel.

Unlike providers of remote log-in services, which still rely on physical servers at key locations, Cloud9 is the only fully compliant and cloud-based voice communication system that meets the complex needs of users from the largest global banks and specialist trading firms.

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About Cloud9 Technologies
Cloud9 Technologies is the leading voice communication and analytics platform designed for the unique needs of the financial markets. Cloud9 developed a solution that harnesses the voice communication talk path for the trading floor of the future – offering more functionality and analytic insight than legacy hardware at a fraction of the cost. Cloud9 connects counterparties across all asset classes via a cloud-based communication platform that eliminates the infrastructure and expense associated with legacy hardware and telecommunication-based solutions, with front-office focused data and transcription, purpose-built for the financial markets. For more information, visit www.c9tec.com.

MEDIA CONTACT
P.J. Kinsella
Paragon Public Relations
pj@paragonpr.com
+1.646.558.6226

Cloud9 Technologies a Finalist in 3 Categories at this year’s Waters Rankings

Cloud9 Technologies a Finalist in 3 Categories at this year’s Waters Rankings

Cloud9 has been named a finalist in the 2020 Waters Rankings in the categories of Best Trading Floor Communication System Provider; Best Cloud-Based Application Provider; and Best Cloud Infrastructure Provider.
 
The Waters Rankings recognize the best in financial technology in 34 categories across five sections: Trading ServicesTrading ToolsData ManagementComplianceRisk Management and the Back Office; and Infrastructure and Connectivity.Reader voting is open now until Friday, May 29. You can vote and see the full list of categories here.