Cloud9 Technologies has partnered with technology firm Sphere to allow institutional traders to convert voice communications into real-time electronic pricing which can be shared across the entire organisation.
The integration is said to leverage Cloud9’s existing Recording System API to push metadata and post-call voice recording into Sphere’s app, which will give institutional traders a more comprehensive view of the market.
Cloud9’s metadata, voice quality, cloud architecture and API delivery strategy are combined with Sphere’s ability to distill data from unstructured speech and text, merging extracted data with electronic pricing. This combination will give users new insights and trading options in one holistic application.
By applying artificial intelligence that is tailored for the language and workflows of voice markets, Sphere extracts trading information from Cloud9’s voice data and merges this with electronic trading.
Additionally, Sphere’s IM integration allows clients to extract market data from text communications and monitor and record voice and IM feeds for compliance and analytical 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.”
Cloud9 and Sphere’s partnership will deliver flexibility and interoperability to ensure the integrated solution can be deployed to customers within minutes.
“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.”