Symphony to lead financial market communications with the acquisition of Cloud9 Technologies

Symphony to lead financial market communications with the acquisition of Cloud9 Technologies

New York and London, 24 June 2021 Symphony – the leading financial markets’ infrastructure and technology platform – has acquired the trader voice and electronic communication company Cloud9 Technologies (Cloud9). With this acquisition, Symphony will take the lead in front office communications with new services and solutions combining trader voice with natural language processing (NLP) and automation. The combined offering will accelerate trade flows, improve transactional accuracy, and extend back office and remote worker use-cases.

“Symphony is building on our solid technology foundation and global network as we seek to tackle true pain points in markets’ workflows. With this acquisition, Symphony takes the lead in the nascent market communications space and brings mission-critical trader voice capabilities to the Symphony platform, by adding C9’s features to our secure and compliant communication stack, with chat, voice and video meetings, file and screen sharing.  Our combined capabilities will allow for more integrated and immediate conversational workflows, and front office users will be better served,” said Symphony’s chief executive officer, Brad Levy. 

In the last year, Symphony solidified its position in financial services as critical markets’ infrastructure, while Cloud9 established itself as a leading cloud voice platform for financial markets. The combined capabilities of the two companies will reshape how market participants interact as well as unlock meaningful and innovative workflow and data analytics solutions. Symphony’s full front-office communication solutions will enable connectivity to both remote and in-office financial services professionals while offering a high-quality trader voice communications experience to its global user community.

“Six years ago, Cloud9 set out to change how trader voice services were delivered to the modern trading desk. As messaging had already impacted the trading communications workflow, we felt the value of voice communications in fast and complex trading scenarios would be renewed by leveraging cloud delivery to create a community of users and provide them with the tools to communicate verbally. The Cloud9 team is excited to join forces with Symphony. It is clear to us that the collective capabilities of our organizations will further drive value to the financial services community, enhancing and accelerating the delivery of secure cloud-based multi-modal communications. We are excited about the future together for our company and the industry”, said Gerald Starr, CEO of Cloud9 Technologies.

The acquisition of Cloud9 Technologies is expected to be the first of several acquisitions for Symphony. Levy has previously shared that Symphony would buy, partner with, or acquire strategic assets for the company and the industry, as reported by Insider, Financial News and Asian Private Banker. Symphony is now positioned to deliver the next wave of markets’ communication solutions. 

Marlin & Associates and Goodwin advised Symphony while Broadhaven and Wilmer Hale advised Cloud9 in this transaction. 

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. The Symphony platform is a vibrant community of over half a million financial professionals from 500+ market participants with a trusted directory. It is powering over 2,000 community-built applications and bots. The company was founded in 2014 and has raised $510 million from institutional investors.

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.

Press contact
Odette Maher
Head of Global Communications
Symphony Communication Services
+44 (0) 7747 420807 / odette.maher@symphony.com 

Cloud9 Technologies Teams with Sphere to Convert Institutional Voice Data into Electronic Data Feeds

Cloud9 Technologies Teams with Sphere to Convert Institutional Voice Data into Electronic Data Feeds

NEW YORK & LONDON, May 26, 2021Cloud9 Technologies (“Cloud9”), a leader in cloud-based communications, has partnered with Sphere, the industry’s first unified electronic and voice data app, to empower institutional traders to seamlessly convert Cloud9 voice communications into real-time electronic pricing that can be shared across the entire organization. The integration leverages Cloud9’s existing Recording System API to push metadata and post-call voice recording into Sphere’s one-of-a-kind app, giving institutional traders a more comprehensive view of the market.

By combining Cloud9’s rich metadata, high voice quality, cloud architecture, and API delivery strategy with Sphere’s ability to distill meaning and data from unstructured speech and text, and merge extracted data with electronic pricing, customers are given unique insights and new trading options that were never before possible – in one holistic application. 

Sphere extracts trading information from Cloud9’s voice data by applying industry-leading AI (patent pending) that is tailored for the language and workflows of voice markets and merges this with electronic trading. Sphere’s IM integration also enables clients to extract market data from text communications and monitor and record voice and IM feeds for analytical and compliance purposes.

“There’s no shortage of market data but firms have been struggling with efficient ways to turn voice and electronic data into actionable insights in a single platform,” said Brian Hunt, Chief Administrative Office and Head of Partnerships at Cloud9. “The integration of Cloud9’s voice data with Sphere’s sophisticated application delivers a level of transparency and simplicity that institutional traders have needed for quite some time.”

“For a long time there has been a disparity between the way that institutional traders approach voice versus electronic trading. We wanted to change that,” said Ami Katschinski, CEO and co-founder of Sphere. “The collaboration of Sphere and Cloud9 takes the best in voice data and incorporates it into a solution that addresses this pain point, enabling customers to see and interact with the entirety of the market in one easy app for the first time.” 

The flexibility and interoperability that the partnership delivers ensure that the integrated solution can be deployed to customers within minutes.

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 Sphere
Founded and led by a team of seasoned market professionals and technology experts, Sphere is designed to offer a new approach for addressing the complexity of hybrid and voice markets. It provides institutional traders with an unparalleled solution for combining content and data from voice and IM communications together with electronic trading and data feeds in one holistic app. Sphere launched its AI-powered app in early 2021; it is the industry’s first app that seamlessly blends voice and electronic markets. For more information, visit https://sphere.buzz/.

MEDIA CONTACTS
For Cloud9:
P.J. Kinsella
EVP, Media Relations, Paragon PR
pj@paragonpr.com
+1.973.255.7153

[VIDEO] FINTECH FOCUS TV: David Midgett, CTO at Cloud9 Technologies

[VIDEO] FINTECH FOCUS TV: David Midgett, CTO at Cloud9 Technologies

Last year, our CAO, Brian Hunt joined Fintech Focus TV, where he examined voice trading during the remote working transition. In a recent Fintech Focus TV episode, our CTO, David Midgett offers an exclusive look at what Cloud9 has been up to since then. From exciting technological innovation and exceptional company growth to how voice trading and data capture technology have changed and why the cloud is no longer a “nice to have” but a “need to have” element of an institution’s infrastructure.

Cloud9 Technologies now hosted on AWS as part of Amazon Partner Network

Cloud9 Technologies now hosted on AWS as part of Amazon Partner Network

Presence on AWS ensures seamless deployment and optimal security of Cloud9’s cloud-based voice trading solution for global financial institutions

Cloud9 Technologies has joined the Amazon Partner Network to deliver institutional customers with greater flexibility and ease of deployment through its secure cloud-based voice trading solution hosted on AWS. 

By leveraging cloud infrastructure via AWS, the roll-out of Cloud9’s cloud-based voice trading solutions requires no technology lift from customers and minimal effort to enable additional capacity to support the customer’s business growth and flexible business requirements.   

Cloud9’s presence on AWS ensures greater scalability and resiliency than traditional voice trading turret solutions by providing physical and network resiliency due to AWS’ redundant availability zones and data centers, allowing Cloud9 to onboard customers without lengthy onsite work or an arduous deployment process.

AWS’ global presence helps Cloud9 meet data residency requirements to store metadata within certain geographic areas or countries, ensuring that Cloud9 voice trading and collaboration tools are accessible anywhere the customer allows their users to log in and where an internet connection is available.

Cloud9’s secure, cloud-based voice platform delivers global users all of the necessary security and compliance controls that financial institutions require both within office settings, on the trading floor and in a distributed environment.