Risk Magazine Article: Voice-to-Text Software Touted as Mifid II Quoting Fix
Our CEO, Paul Christensen, was recently interviewed by Risk Magazine! Below is an excerpt of the article.
Quotes given over phone can be transcribed and broadcast, claim ‘soft turret’ firms
By: Luke Clancy in London
Until a few months ago, Paul Christensen and Germán Soto Sanchez were doing similar jobs at rival banks Today, both men are doing similar jobs at rival technology companies. Their aim is to replace a trading desk's souped-up phone console, or turret, with cheaper, browser-based software. But it's not just about cost.
From next year, the firms plan to offer speech recognition and transcription tools that will automatically convert voice into text in real time – the best way to satisfy new rules on recordkeeping and transparency, they argue.
This sets up a scrap with incumbent turret providers, who paint the new technology as a solution in search of a problem, and question its reliability. The only thing both sides agree on – unsurprisingly – is that voice trading has a bright future.
For the complete article, please visit Risk Magazine.