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Symphony buys voice trading tech supplier Cloud9

Symphony buys voice trading tech supplier Cloud9

Financial communication platform Symphony has acquired New York-based voice trading software supplier Cloud9 Technologies. Financial terms were not disclosed.

Initially positioned as a bank-backed alternative to Bloomberg's chat platform, Symphony has been building out its platform in an attempt to become a full-blown financial markets' infrastructure and technology platform.

The firm says its Cloud9 acquisition will let it take the lead in front office communications with new services and solutions combining trader voice with natural language processing and automation - accelerating trade flows, improving transactional accuracy, and extending back office and remote worker use-cases.

The Cloud9 deal is set to be the first of several acquisitions, with Symphony CEO Brad Levy on record as being on the prowl to buy, partner with, or acquire strategic assets.

Says Levy: "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."

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