GreenKey CEO Paul Christensen said: "We're excited to collaborate with Symphony, as we both share the same goals of making the markets safer, smarter and cheaper. Some of the world's largest banks and inter-dealer brokers have expressed great interest in this innovative voice quote capture tool and are anxiously awaiting its release, particularly to solve their pre-trade transparency challenges for voice quotes that are required under the 'Systemic Internaliser' (SI) and 'Organised Trading Facility' (OTF) regimes of MiFID II. This tool is the first of many we are planning to release to help clients enhance their global compliance capabilities in this heightened regulatory environment and to unlock the value of data analytics for voice."
Christensen said: "MiFID II will introduce transparency requirements that are profound and significant. The pre-trade transparency rules, in particular, are more far reaching than those of Dodd-Frank, and cover all asset classes, as well as cash and derivative products. Given the tremendous impact of these requirements and the desire of EU lawmakers to accelerate the pace of the market-rules overhaul, the industry needs to find solutions and coalesce around them. One of the most controversial requirements is that any bank that regularly makes prices, including by voice, will be deemed to be an SI and have to make public in real time any bids or offers that it gives its clients for liquid products. For voice trades, that is a real challenge, and GreenKey within Symphony offers a unique and robust solution for our joint clients."
Launched in September 2015, Symphony is backed by some of the world's leading financial institutions. As its partner, GreenKey will be available to all Symphony users in a seamless fashion, integrated as an app within the Symphony service, in the second quarter. By incorporating voice, Symphony and GreenKey will ensure conversations can be recorded in a secure environment to meet regulatory compliance needs.
GreenKey has developed the application for voice quote capture and recorded group telephony (with integration of clients' existing turret technologies) that is available for Symphony enterprise clients to test. Company administrators can contact GreenKey at email@example.com to obtain the required configuration file.
GreenKey is the voice-led collaboration platform for teams in financial markets – enhancing compliance and enabling sophisticated data analytics and workflows. It provides the efficiency of voice with the power of digital functionality and analytics. GreenKey is an extremely thin web application, designed for mission-critical trader voice, that performs exceptionally well on sub-$100 tablets. Its planned voice-driven workflow tools include quote & trade capture, parsing, tracking client inquiry, CRM by voice or phone line recognition, relationship mapping, attribution and sales call reports. GreenKey will offer optional real-time transcription of voice communications to digitized text for searchable data and analytics (on-site or cloud).
GreenKey provides global financial market participants with softphone capabilities over a secure voice network without hardware. The GreenKey cloud-based voice software completely replicates the functionality of legacy hardware turrets and T1 lines, but at a fraction of the cost. Users can access the voice software from any device and push-to-talk concurrently in real time with an unlimited amount of users.
With offices in London, Chicago, New York, and Singapore, GreenKey provides the most comprehensive, advanced voice workspace environment for firms involved in the financial markets. The firm's patented software turret functionality, encrypted global Voice over Internet Protocol (VoIP) network and searchable text files combine to make voice communication significantly simpler, smarter and more cost-effective. GreenKey's VoIP network now includes more than 250 of the world's largest banks, brokerage firms and trading firms. In 2015, GreenKey won Waters Technology's Most Promising Sell-Side Start Up Award and received an Innovator Award from FIA, the leading trade organization for the futures, options and cleared swaps markets worldwide. For more information, please visit www.greenkeytech.com.
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