Cloud9 Technologies (“Cloud9”), a leader in cloud-based communications, has integrated with SteelEye, a leading regulatory technology and data analytics provider, to offer the institutional marketplace an efficient solution to manage their regulatory and surveillance obligations for voice trade data.
With demand surging among financial institutions for ‘virtual trading floors’, the integration of Cloud9 into SteelEye enhances firms’ interoperability and simplifies their record-keeping, trade surveillance and regulatory reporting obligations.
The partnership enables firms to capture their Cloud9 voice trade data within SteelEye, alleviating the complexities and rising costs of regulatory compliance as firms gravitate towards long-term work-from-home policies. By combining Cloud9’s voice capture capabilities with SteelEye’s intelligent compliance and data platform, firms can seamlessly overlay their regulatory and financial data with their voice communications to facilitate effortless compliance and more easily identify market abuse risks including insider trading.
“As institutions transition towards more remote working conditions, cloud-based data solutions that simplify compliance and remove communication impediments are no longer a luxury; they’re essential,” said Brian Hunt, Chief Administrative Officer and Head of Partnerships at Cloud9. “We’re excited to be partnering with a trusted solution like SteelEye during such a transformational period in the market.”
“In this highly competitive financial landscape, it’s imperative that firms can quickly respond to changing market structures and regulatory demands,” said Helen Bevis, Head of Operations and Strategic Partnerships at SteelEye. “With increasing demands for cloud-based voice capture as firms support remote working, the collaboration between Cloud9 and SteelEye provides an efficient solution for the institutional marketplace.”
The combination of Cloud9 and SteelEye’s award-winning solutions addresses key regulatory mandates including MiFID II, EMIR, Dodd-Frank, SMCR and MAR.