New York, US – News Direct – 27 October 2022 –
The Symphony platform has seen a 500%+ increase in traffic across its compliance-enabled messaging offering for WhatsApp, WeChat and SMS
T. Rowe Price announced 200,000 new connections with JP Morgan counterparts on Symphony
Over 250 financial professionals attended the event in person
Symphony – the leading markets’ technology and infrastructure platform – showcased the power of instant voice and real time connectivity while highlighting a compliant communications offering that is solving critical financial markets challenges, in the company’s flagship conference Symphony Innovate 2022, held last week in New York City.
Brad Levy, Innovate New York 2022
The full realization of the vision behind Symphony’s acquisition of Cloud9 Technologies last year was presented at Innovate, as attendees learned about Symphony’s
applied voice strategy, which creates seamless connectivity and efficiency by connecting trader voice workflows to messaging workflows.
CEO Brad Levy talked about the state of the market and how Symphony is helping customers navigate the volatility, velocity and risk of the cycle. “Symphony is evolving to protect and enhance how our users communicate. Innovations such as instant voice are driving the market towards a future where information can be shared with ease without worry to those who need it most”, he said. Levy also shared significant growth in the Symphony network and platform, with a 60% increase in external messaging, 150% increase in buyside to sellside connections and an over 500% increase in traffic across Symphony’s compliant messaging offering for WhatsApp, WeChat and SMS.
Compliance and frictionless connectivity
Putting in place robust regulatory and compliance practices is more critical than ever, with many banks in the United States recently being fined millions of dollars as a consequence of non-compliant communications. Regulatory and industry leaders joined the Symphony team to discuss how these challenges are being addressed.
Among the experts on stage, were Commissioner Kristin Johnson from the
Commodity Futures Trading Commission (CFTC), Dean Elwood from
Umony, Paul Kelly from
Blackstone Credit, Olga Chin from
InterPrice Technologies, Keith Gaub from
Bristol-Myers Squibb, James Gutow from
Barclays, Jonathan Slavin from
UBS, Wendy Askew from
ETD, Matthew Cheung from ipushpull, Paul Dyson from
Singletrack, Leslie Spiro from
Glue42, Alejandra Villagra from
JP Morgan, and John Courtney from
Maverick Capital. CFTC Commissioner Johnson encouraged an active dialogue between regulators and financial firms and explained how she believed it was key for regulators to model best practices when it comes to technology.
In a demonstration of frictionless connectivity, head of global trading at T. Rowe Price, Marc Wyatt, joined remotely to share that “with the help of the Symphony team, we successfully connected the Global Trading organization at T. Rowe Price with our Global Markets counterparts at JP Morgan. In total, 200,000 new connections were created.” Also introduced at the event was the ETD (formerly known as Euromoney) @TaDa Chatbot – powered by ipushpull technology – which enables Symphony users to query reference data in real time, including corporate actions, exchanges holidays, symbology and historical transaction reporting.
To wrap up the day, Alejandra Villagra, head of digital innovation at
JP Morgan and John Courtney, senior equity trader at
Maverick Capital, had a discussion moderated by Symphony CRO Gary Godshaw on the importance of connectivity, where voice and data fit in the market, and the future that lies ahead.
Over 250 leaders attended Innovate New York in-person while another 250+ financial professionals from around the world were able to watch live online. To view all Innovate New York 2022 sessions please visit:
https://innovate.symphony.com/videos. The next editions of Innovate will take place in London and New York in the spring of 2023.
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