IPC, GK, Symphony, and OpenFin Leverage Open Source to Create Chatbot Ecosystem for Financial Markets
A large portion of OTC trading still takes place via live conversations between counterparties over voice and chat lines. Regulatory and cost pressures combined with availability of new technology are leading the world’s largest banks, broker dealers, and technologists to focus on the next generation of trading workflows that enable traders to communicate more efficiently and trade faster with regulatory compliance built into the technology stack.
Greenkey has partnered with IPC and Symphony to deliver the first part of this workflow to voice enable quote input to Symphony chat. Traders will have the ability to push a button on an IPC turret, dictate a quote, and have voice converted to data in real time and fed into a Symphony chat room. Counterparties with access to this chatroom will see quotes in real-time in a searchable chat stream where they can subscribe to alerts and updates on securities, currencies, or price points of interest to identify and respond to trading opportunities.
Once a trade is identified this trade information can be communicated via open source APIs into trading systems such as FlexTrade which are housed in an OpenFin container for execution. Seamless integration feeds this quote and trade data to banks’ compliance platforms for compliance with MiFID best execution and trade reconstruction requirements.
This end to end process - from voice quote to trade execution - has been made possible with the use of open source tools and collaboration of key partners across the financial services industry.
Tom is the CTO of GreenKey Technologies, a Chicago-based fintech NLP and ASR startup, as well as the lead of the FINOS Voice Program. His 20 year software career spans both startups and enterprises across the finance, medical, and defense sectors, specializing in highly-available distributed systems for regulated markets. Tom has a degree in Physics from MIT.