Symphony Software Foundation (the Foundation), the nonprofit organization fostering open source software (OSS) innovation in financial services on the Symphony secure collaboration platform, announced today ChartIQ, The Beast Apps and Tick42 joined the Foundation as the newest silver members.
The Foundation now counts more than 20 members, including leaders on the sell side, buy side as well as data, technology and fintech providers.
Gabriele Columbro, executive director of the Symphony Software Foundation, said, "As we built up the Foundation last year, we quickly realized the strong drive shared by large financial institutions and younger fintech firms to collaborate in the open and achieve true interoperability through open source. ChartIQ, The Beast Apps and Tick42 are on the forefront of fintech innovation and will increase the value the Foundation delivers to the community on the Symphony platform and to the financial services industry at-large."
Formed just over a year ago and already boasting more than 40 open source projects, the Foundation introduced an inclusive membership tiering in November 2016. Membership is open to the whole financial services industry with the aim to enable emerging and innovative fintech firms in the open collaboration process on Symphony, and drove in a strong community uptake in its first year of operations.
Dan Schleifer, CEO of ChartIQ, a leading charting and data visualization provider for capital markets, said, "As the leading interactive chart provider for the capital market space, we believe that Symphony provides a powerful, open network for sharing pre- and post-trade content. We fully embrace the idea of open standards and interoperability; the Foundation is key to taking chat and collaboration to the next level."
"Having worked with virtually every global bank on Wall Street, we see the need for an open source forum supported by key players across the financial services spectrum," said Ashok H. Mittal, president and co-founder of The Beast Apps, a data, analytics, trading and compliance application solution provider, deployed in the cloud or a private data center. "Open source drives much needed collaboration within our ecosystem. The efficiencies derived from implementing against standard APIs and platforms, especially when it comes to efficiently building and deploying complex financial applications in the cloud, are invaluable. We realized the opportunity of providing an asset class neutral framework for global financial markets through a standards based platform like The Beast early on and look forward to contributing to the Foundation."
"Our message is 'chat is not just for people.' While Symphony is often seen as chat between people, or people and bots, we see Symphony as the fabric that enables Tick42's Glue to allow my apps to 'talk to' your apps using secure and compliant communication," said Leslie Spiro, CEO of Tick42, an established real-time products and services provider. "We gained extensive open source experience through our participation in OpenMama. We see active engagement with the Foundation as the best way to impact the Symphony ecosystem and ensure long-term compatibility with our offering."
"If you consider the pervasive adoption and very collaborative nature of a network-based platform like Symphony, together with an almost unprecedented ensemble of industry leaders and fintech innovators in our membership, it's easy to see how the Foundation has a unique opportunity to be the driver of fundamental and much needed evolution within this industry," concluded Gabriele Columbro, executive director of the Symphony Software Foundation.