Green Key Technologies, a trading-centric voice software provider, has released the pilot version of its voice quote capture tool for enterprise customers of Symphony Communication Services, a communications and workflow technology venue, according to a Green Key statement.
The new voice quote tool is still in its testing phase, and will be available for all Symphony Communication Services customers. In doing so, the pilot will help garner important evaluation feedback and product testing, which will help streamline the tool ahead of its eventual release. By extension, Symphony users will gain access to the new tool’s capabilities during the testing phase, which is poised to become available as a full time app during Q2 2016.
The tool is important for users as it strengthens a number of transparency measures across markets as well as across banks and inter-dealer brokers. According to Green Key’s Chief Executive Officer (CEO) Paul Christensen in a recent statement on the release: “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.”
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“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,” he reiterated.
The industry needs to find solutions and coalesce around them.
“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,” Christensen noted.
Earlier this month, Green Key Technologies made headlines after it appointed Mr. Christensen as the group’s London-based CEO. In his role as the CEO of the group’s UK office, he has since focused on the expansion of Green Key’s global operations, including the US (Chicago, New York) and Singapore. As a result of the appointment, Green Key’s co-founder and inaugural CEO, Anthony Tassone, assumed the role of Chief Product Officer.