Financial markets’ infrastructure platform Symphony has announced its partnership with fintech Saphyre to integrate patented artificial intelligence technology into pre and post-trade workflows for front, middle, and back office staff.
This partnership will create an integrated platform for real-time notifications updates for all onboarding and maintenance-related tasks and ready-to-trade statuses of allocations, trades, funds, and settlements.
Symphony’s platform has in-built end-to-end security and compliance features that centralizes communication for both internal and external workflow participants. At the same time, the in-chat notifications drive transparency throughout the process.
More than 500 market participants have already shown trust in this platform. Brad Levy, CEO of Symphony, said, “We are committed to tackle pain points in financial services workflows. This partnership with Saphyre will allow us to innovate with the front, middle and back office staff as the industry looks to revolutionize pre and post trade workflows to create a golden source for the democratization of that data.”
He further mentioned that to make a program successful requires a diversified team and interoperability between technology partners and industry participants. He also said that they are very excited to partner with Saphyre to boost the process of digital adoption in market infrastructure.
The integration of the two companies provides a scalable framework to develop a complete suite of ready to use applications. Some of their available applications in the market include ‘Ready To Trade’ (RTT), which provides real-time status per fund, per broker, per trading instrument, per market, and net asset value termination event alerts, which automatically calculates NAV termination.
The companies have announced the launch of other new applications very soon. CEO of Saphyre, Gabino Roche, said, “The partnership and production integration with Symphony achieves a demand that the industry has been crying for like interoperability of technology and data. The commitment, camaraderie, and excitement by both companies show in the final delivered product.”