Patsystems is to implement New York-based MarketSound's verbalisation technology in a bid to bring the hubub of the pits to the desks of screen-based traders. Derivatives broker GNI is an early user of the system, which converts digital data into real-time commentary on market activity.
Brad Fishman, CEO of MarketSound says by adding sound to dealing screens, traders are able to absorb significantly more information about market movements, trends and deal flows. "MarketSound’s artificial intelligence software is uniquely able to absorb, prioritise and verbalise electronic market data faster than the human mind," he says.
Jacques de Cock, CEO of patsystems says: "MarketSound provides a great enhancement tool for traders to multi-task and trade more effectively. We have chosen to offer our customers MarketSound as it enables us to combine the advantages of electronic trading while replicating the information flow of a trading floor."
MarketSound’s artificial intelligence software converts digital data into real time commentary, broadcast over the user’s PC’s audio system. The company was founded in early 1999 by three professional traders who found that their trading benefited from the efficiency and accessibility of electronic markets, but their ability to assimilate information was adversely affected by the absence of trading floor noise.