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Symphony, the leading markets’ infrastructure and technology platform, will be interoperable with Microsoft Teams, it was announced at the company’s flagship event Symphony Innovate in New York on April 18th.
The solution demonstrated two distinct capabilities to connect users on Symphony securely with Teams: connecting internal Teams users natively through Symphony’s directory and bi-directional chats with external contacts on WhatsApp, SMS and WeChat, through the embedded Symphony Connect app, complementing the firm’s existing video integration. Video.
For the first time, Symphony showcased the power of AI when used with its Cloud9 Trader Voice product. The new generative AI-powered and AI noise-suppressed solution provides high-accuracy transcription and intelligence to voice trading interactions, extracting detailed analysis with models trained in trading floor jargon, informing strategic decisions, improving trader efficiency, and simplifying customer risk management. Through the use of AI, the solution supports deal tagging, allowing users to extract deal-related information from voice calls such as price, quantity, and asset class, to build a comprehensive, concise transaction summary. Symphony’s specialized language models are being used to identify relevant keywords, phrases, or context to mark a conversation as a deal confirmation call. Video.
With the T+1 settlement cycle fast approaching, the operations directory showcased the ease of finding and connecting with peers, expediting issue resolution, and exception management on Symphony. The Depository Trust & Clearing Corporation took to the stage to help share Symphony’s embedded collaboration platform (ECP) integration with Central Trade Match (CTM), DTCC’s platform to allocate and centrally match transactions globally. This integration - currently being piloted - will allow users to communicate with counterparties directly, reducing context switching and manual data entry to streamline post-trade matching and confirmation, an important aspect of T+1. Video. Another five ECP use cases were shown on stage in a clear validation of the relevance of Symphony’s interoperability play to the industry.
CEO Brad Levy said: “Innovate is the forum where Symphony’s industry-leading customers and partners get to showcase the innovations built on our platform. We are proud to be connecting people and companies in a distributed, flexible, and interoperable way, through the right tech stack and infrastructure.” He explained: “In a time where firms must choose to disrupt or be disrupted, Symphony has the right technology to drive innovation and move with precision in a time of uncertainty.” CEO keynote video.
Among the industry leaders on stage showcasing the community innovations were John Hoffman from DTCC, Guilis Aquino, Ella White, and David Feldman from Citi, Afzal Memon and Kate Finlayson from JP Morgan, Mike Torregrossa from UBS, Peter Williams and Anand Gupta from Wells Fargo, Brandi Love from RBC, Nigel Someck from MDXT, Sid Bhandari from Loanbook, Omar Gazarin and Rahul Ravikrishnan from Eidosmedia, Paul Taylor from HUB, Eslam Gebriel from Goldman Sachs, Steve Surdykowski from Capital One, Mauricio Sada-Paz and Robert Mackenzie Smith from Bank of America, Sarah Schaffer from BlackRock, Venu Bolisetty and Thomas Dolan from 28Stone, Philip Slavin and Kishan Bharwad from Taskize, Miguel Ferreria from Euroclear Bank, Colin Duggin from TP ICAP, Matthew Cheung from ipushpull, and Mohamed Khalifa from JP Morgan Private Bank.
Symphony’s new virtual number solution was introduced as a way for firms to provide employees with a convenient, centralized, and compliance-friendly identity for communication across mobile voice, SMS, and social messaging applications. Symphony has partnered with Umony, a telecommunications compliance specialist, to capture and archive mobile communications, while summarizing call transcripts, analyzing sentiment, and flagging compliance risks using Umony trained LLMs for true end-to-end, GenAI-powered communications compliance. Video.
More than 200 leaders joined Symphony Innovate 2024 in person, and over 400 professionals globally watched live online. You can view all Innovate 2024 sessions here.
More session videos:
About Symphony
Symphony is the most secure and compliant markets’ infrastructure and technology platform, where solutions are built or integrated to standardize, automate and innovate financial services workflows. It is a vibrant community of over half a million financial professionals with a trusted directory and serves over 1000 institutions. Symphony is powering over 2,000 community built applications and bots. For more information, visit www.symphony.com.
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