Voice trading continues to be a pivotal element of daily workflows across the institutional marketplace, which means that access to greater voice metadata is imperative for strategic, regulatory and operational purposes. In the fourth episode of Cloud9’s podcast series examining developments in the voice trading landscape, Cloud9’s CAO and Head of Partnerships, Brian Hunt, and Verint’s VP of Product Strategy, Phil Fry, examine the who, where, what and why of accessing greater voice metadata and how this will progress as we near the end of one of the most challenging years in recent memory.
As trading tools become more sophisticated, one thing that financial institutions continue to put at the top of their priority list is flexibility in their solutions. While the industry is gaining a greater appetite for working remotely, enabling greater flexibility in a cloud-based environment can still pose challenges. In episode 3 of Cloud9’s podcast series, Cloud9 SVP of Technology & Operations David Midgett and Business Systems Ltd Sales Director Will Davenport discuss how to address some of these hurdles and how the trading landscape will continue to evolve in the months ahead.
Cloud9 and SteelEye Partner to Address Voice Trading Compliance Challenges amid Remote Working Conditions
NEW YORK & LONDON, July 8, 2020 — Cloud9 Technologies (“Cloud9”), a leader in cloud-based communications, has integrated with SteelEye, a leading regulatory technology and data analytics provider, to offer the institutional marketplace an efficient solution to manage their regulatory and surveillance obligations for voice trade data.
With demand surging among financial institutions for ‘virtual trading floors’, the integration of Cloud9 into SteelEye enhances firms’ interoperability and simplifies their record-keeping, trade surveillance and regulatory reporting obligations.
The partnership enables firms to capture their Cloud9 voice trade data within SteelEye, alleviating the complexities and rising costs of regulatory compliance as firms gravitate towards long-term work-from-home policies. By combining Cloud9’s voice capture capabilities with SteelEye’s intelligent compliance and data platform, firms can seamlessly overlay their regulatory and financial data with their voice communications to facilitate effortless compliance and more easily identify market abuse risks including insider trading.
“As institutions transition towards more remote working conditions, cloud-based data solutions that simplify compliance and remove communication impediments are no longer a luxury; they’re essential,” said Brian Hunt, Chief Administrative Officer and Head of Partnerships at Cloud9. “We’re excited to be partnering with a trusted solution like SteelEye during such a transformational period in the market.”
“In this highly competitive financial landscape, it’s imperative that firms can quickly respond to changing market structures and regulatory demands,” said Helen Bevis, Head of Operations and Strategic Partnerships at SteelEye. “With increasing demands for cloud-based voice capture as firms support remote working, the collaboration between Cloud9 and SteelEye provides an efficient solution for the institutional marketplace.”
The combination of Cloud9 and SteelEye’s award-winning solutions addresses key regulatory mandates including MiFID II, EMIR, Dodd-Frank, SMCR and MAR.
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.
SteelEye is a RegTech and data analytics firm that was established to reduce the complexity and cost of financial compliance and enable firms globally to manage their regulatory obligations through a single platform. SteelEye’s ability to bring together, cleanse, index, and analyse structured and unstructured data across all asset classes and communication types enables clients to effortlessly meet their regulatory needs because when all this data is in one place, compliance becomes both easy and cost-effective. And with everything under one lens, firms also gain fresh insight into their business, helping them improve their efficiency and profitability.
To date, SteelEye has launched solutions for record-keeping, trade reconstruction, transaction reporting, trade, and communications surveillance, best execution reporting, transaction cost analysis, and advanced analytics for regulations including MiFID II, EMIR, Dodd-Frank, SMCR, and MAR. For more information, visit www.steel-eye.com.
Media inquiries, please contact:
For Cloud9 Technologies
EVP of Media Relations, Paragon PR
Marketing Director, SteelEye
+44 (0) 203 176 8306
As the appetite for anytime, anywhere access to trading workflows increases, global capital markets are transitioning to “virtual trading desks”. While COVID-19 has acted as a catalyst for this structural shift, this transition will have a permanent impact on trading floors. With cloud-based voice solutions liberating traders from legacy hardware to trade and manage business remotely, Cloud9 and OpenFin are playing a key role in equipping the industry for the trading desktop of the future. Cloud9 Chief Operating Officer Jim Miller and OpenFin President and Chief Operating Officer Chuck Doerr discuss how we’ll get there and what we can expect along the way.