2020 was a year unlike any other. Despite our worst fears, many organizations were able to respond quickly and deal with change. In some cases, we managed to improve business communications despite the demise of the traditional office setting. To illustrate these points, Glue42 gathered insights from renowned fintech experts.
Here’s what our CAO, Brian Hunt had to say:
“Over the last 12 months, we’ve seen a major shift across the institutional trading landscape as traders were forced off the traditional trading floor and into remote working conditions. While the pandemic has been a catalyst, it was not the sole driver of this structural shift. Voice trading and mobility remain prominent factors in the institutional trading ecosystem but they must be supported by secure and reliable cloud infrastructure in order to access the ‘virtual trading floor’ that is quickly becoming the new normal.
Many firms realized at the outset of the pandemic that they lacked the resources to adequately capture voice data because they had been relying heavily on antiquated technology. Cloud9 quickly stepped in with our cloud-based voice communication APIs to ensure greater flexibility and interoperability, regardless of where they were located, ultimately leading to a 50% increase in our business.
In an industry that’s becoming increasingly digitized, productivity should not be impacted. In fact, we’ve learned that firms can even elevate efficiency by leveraging the right resources, from front-office trading software to regulatory and compliance solutions. We expect that trend to continue this year but it starts with creating a more nimble, cloud-based environment for individuals on and off the trading floor.”
As part of The Trade’s annual Leaders in Trading Awards program, Cloud9 has been named one of four finalists for Fintech of the Year. The Leaders in Trading Awards recognize the best in trading innovation and addressing hurdles faced by the institutional trading community.
Voting is now open to the public and winners will be announced at The Trade’s Digital Experience event on March 19 and will be featured in the Q1 2021 issue of The TRADE magazine.
The entire Cloud9 team thanks you in advance for your support!
December 4, 2020 – WatersTechnology recently announced the winners of its 16th annual American Financial Technology Awards (AFTAs) and the collaboration between Cloud9 & Verint was named the winner of the “Best Partnership or Alliance” category. The partnership, which was announced in July 2020, provides the capital market ecosystem with a fully compliant, cloud-enabled communications solution to support traders both on the trading floor and remotely, providing necessary flexibility as the industry continues to take a cloud-first approach and gains a greater appetite for anytime, anywhere access to the “virtual trading floor”.
Hosted by Waters Technology, the AFTAs recognize the best across the deployment and management of financial technology within the asset management and investment banking communities over the last 12 months. The 2020 AFTAs featured 29 categories, with 16 focusing on end-users and 13 for technology vendors.
The joint solution brings together Cloud9’s C9Trader voice communication platform and Verint® Financial Compliance Capture™ for advanced communication capture, records retention, secure data governance and advanced data analysis. By doing so, it gives financial institutions an enterprise-wide communication and compliance framework that alleviates obstacles and ensures traders remain within compliance parameters both remotely and on the trading floor. Through the analytics and open data APIs, businesses can capture, preserve and monitor a complete set of voice records and metadata and make these available for surveillance, trade reconstruction and analysis purposes.
“The American Financial Technology Awards is a true recognition of our teams’ ongoing efforts and strategy to support the trading industry in this exigent times,” comments Phil Fry, VP of Product Strategy at Verint. “It’s a great honor to receive such a prestigious industry accolade with Cloud9 and we look forward to continuing to redefine trading compliance to help financial market participants ensure that traders stay connected with clients, peers, and counterparties without having to worry about compliance infractions.”
“As the institutional trading landscape becomes more digitized and work-from-home becomes much more common or in many cases essential, access to voice data is essential to fufill regulatory and operational requirements,” said Briant Hunt, Chief Administrative Officer and Head of Partnerships at Cloud9. “Receiving this top honor in the financial technology space is a testament of our collaboration to support the trading community with greater flexibility and optionality during the pandemic crisis and beyond.”
As part of Cloud9’s podcast series that examines developments in the voice trading ecosystem, Cloud9 CAO and Head of Partnerships Brian Hunt recently spoke with Verint’s VP of Product Strategy Phil Fry about the importance of extracting voice data. You can listen to the full episode here.
Voice trading continues to be a pivotal element of daily workflows across the institutional marketplace, which means that access to greater voice metadata is imperative for strategic, regulatory and operational purposes. In the fourth episode of Cloud9’s podcast series examining developments in the voice trading landscape, Cloud9’s CAO and Head of Partnerships, Brian Hunt, and Verint’s VP of Product Strategy, Phil Fry, examine the who, where, what and why of accessing greater voice metadata and how this will progress as we near the end of one of the most challenging years in recent memory.
NEW YORK, November 11, 2020– Cloud9 Technologies (“Cloud9”), a leader in cloud-based communications, has partnered with Enghouse Interactive to integrate its Proteus Trader advanced voice trading accounting application for the institutional marketplace. The collaboration between Cloud9 and Enghouse Interactive provides investment banks and trading firms with a more robust tool for network management and planning, private wire management, and more efficient way to monitor and minimize voice trading costs.
With many still adjusting their technology infrastructure to ensure efficiency in a remote work environment, Proteus Trader provides compliance officers and head of trading desks with the most accurate method for measuring trading voice activity. The combination of Proteus Trader with Cloud9’s purpose-built voice collaboration platform delivers an automatic feed of voice trading information and data, streamlines the compliance reporting process and delivers more efficient infrastructure management.
“As financial services increase their technology expenditures, cost control becomes paramount. The integration of Cloud9 with Enghouse’s Proteus Trader software gives customers total insight into their telephony spend, allowing them to efficiently scale their counterparty network,” said Brian Hunt, Chief Administrative Officer and Head of Partnerships at Cloud9. “Teaming up with Enghouse Interactive to incorporate Proteus Trader into our software is addressing something that has become a growing concern for trading firms.”
“Voice trading remains an integral part of the institutional trading landscape but firms need more sophisticated ways to manage their networks and infrastructure,” said Trevor Davis, Head of Product Marketing at Enghouse Interactive. “We’re excited to be working with Cloud9 to help elevate these capabilities for institutional traders.”
Proteus Trader’s inventory database is auto-populated by Cloud9 to show all private wires and their circuit data, so there is no need for manual updates, which can be prone to human error. This ensures complete visibility of private-wires and other trader voice assets by tracking them in an inventory database, allowing supplier details, renewal dates, costs and other asset data to be stored and managed in one place.
About Cloud9 Technologies
Cloud9 Technologies is the leading voice communication and analytics platform designed for the unique needs of the financial markets. Cloud9 developed a solution that harnesses the voice communication talk path for the trading floor of the future – offering more functionality and analytic insight than legacy hardware at a fraction of the cost. Cloud9 connects counterparties across all asset classes via a cloud-based communication platform that eliminates the infrastructure and expense associated with legacy hardware and telecommunication-based solutions, with front-office focused data and transcription, purpose-built for the financial markets. For more information, visit www.c9tec.com.
About Enghouse Interactive
Enghouse Interactive (www.enghouseinteractive.co.uk) delivers technology and expertise to maximize the value of every customer interaction. Core technologies include contact center, attendant console, predictive outbound dialer, knowledge management, IVR and call recording solutions that support any telephony environment, on-premise or in the cloud. Enghouse Interactive has thousands of customers worldwide, supported by a global network of partners and dedicated staff across the Company’s international operations.
Enghouse Interactive is a subsidiary of Enghouse, a Canadian publicly traded company (TSX:ENGH), which provides enterprise software solutions focusing on remote work, visual computing and communications for next-generation software-defined networks. The Company’s two-pronged growth strategy focuses on internal growth and acquisitions, which, to date, have been funded through operating cash flows. The Company is well capitalized, has nominal long-term debt and is organized around two business segments: the Interactive Management Group and the Asset Management Group. Further information about Enghouse may be obtained from the Company’s website at www.enghouse.com.