NEW YORK & LONDON, May 26, 2021– Cloud9 Technologies (“Cloud9”), a leader in cloud-based communications, has partnered with Sphere, the industry’s first unified electronic and voice data app, to empower institutional traders to seamlessly convert Cloud9 voice communications into real-time electronic pricing that can be shared across the entire organization. The integration leverages Cloud9’s existing Recording System API to push metadata and post-call voice recording into Sphere’s one-of-a-kind app, giving institutional traders a more comprehensive view of the market.
By combining Cloud9’s rich metadata, high voice quality, cloud architecture, and API delivery strategy with Sphere’s ability to distill meaning and data from unstructured speech and text, and merge extracted data with electronic pricing, customers are given unique insights and new trading options that were never before possible – in one holistic application.
Sphere extracts trading information from Cloud9’s voice data by applying industry-leading AI (patent pending) that is tailored for the language and workflows of voice markets and merges this with electronic trading. Sphere’s IM integration also enables clients to extract market data from text communications and monitor and record voice and IM feeds for analytical and compliance purposes.
“There’s no shortage of market data but firms have been struggling with efficient ways to turn voice and electronic data into actionable insights in a single platform,” said Brian Hunt, Chief Administrative Office and Head of Partnerships at Cloud9. “The integration of Cloud9’s voice data with Sphere’s sophisticated application delivers a level of transparency and simplicity that institutional traders have needed for quite some time.”
“For a long time there has been a disparity between the way that institutional traders approach voice versus electronic trading. We wanted to change that,” said Ami Katschinski, CEO and co-founder of Sphere. “The collaboration of Sphere and Cloud9 takes the best in voice data and incorporates it into a solution that addresses this pain point, enabling customers to see and interact with the entirety of the market in one easy app for the first time.”
The flexibility and interoperability that the partnership delivers ensure that the integrated solution can be deployed to customers within minutes.
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.
Founded and led by a team of seasoned market professionals and technology experts, Sphere is designed to offer a new approach for addressing the complexity of hybrid and voice markets. It provides institutional traders with an unparalleled solution for combining content and data from voice and IM communications together with electronic trading and data feeds in one holistic app. Sphere launched its AI-powered app in early 2021; it is the industry’s first app that seamlessly blends voice and electronic markets. For more information, visit https://sphere.buzz/.
EVP, Media Relations, Paragon PR
The institutional marketplace is gravitating towards a more digitally-advanced ecosystem which is requiring greater technology sophistication and, in turn, more stringent data security and regulation parameters. As traders become more comfortable working remotely, accessibility to robust sets of voice metadata for both strategic and regulatory reporting purposes will be very important. In Episode 2 of the Cloud9 podcast series, Cloud9 CTO and Co-Founder Leo Papadopoulos and SteelEye CEO Matt Smith discuss how the partnership that their companies recently announced addresses these concerns and why it’s so important for firms to equip themselves with the proper security and regulatory reporting tools during this transitional period.
Cloud9 Technologies · Navigating compliance parameters and cloud security across the virtual voice trading environment
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.
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For Cloud9 Technologies
EVP of Media Relations, Paragon PR
Marketing Director, SteelEye
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