Better interdealer broker relationships come to fruition as Tradition, Tullett Prebon and Tier 1 banks enter GreenKey design partnership

Tradition and Tullett Prebon – two of the world’s most prominent interdealer brokers, along with tier 1 banks, trading firms and exchanges, are leading a design partnership set in place by Greenkey enabling users to interact with their computers far more easily and much faster, for example to populate trade tickets and pricing whiteboards

connect

Digital connectivity and telephony firm GreenKey, has announced the launch of a Design Partner Program (DPP) led by Tradition and Tullett Prebon – two of the world’s most prominent interdealer brokers – and involving tier 1 banks, trading firms and exchanges.

In addition to the DPP participants, seven of the world’s top-10 investment banks and several leading global exchanges are testing or deploying GreenKey technology within their respective organizations and developing workflows that utilize GreenKey’s unique speech recognition capabilities and voice-user interface (VUI). The VUI enables users to interact with their computers far more easily and much faster, for example to populate trade tickets and pricing whiteboards.

Through the program, Design Partners will work closely with GreenKey, focusing on helping to develop common standards for workflows and use cases for the voice-driven technology. Design Partners will help identify additional key features they would like built into GreenKey offerings, including in the areas of telecommunications, voice collaboration, instant messaging capture and speech recognition for voice-driven workflows.

By digitizing voice, GreenKey can help its clients meet a host of U.S. and European regulatory requirements, including pre- and post-trade transparency for voice quotes and trades, satisfaction of best execution for voice, tagging of calls for market soundings*, real-time surveillance reports and completeness and retention requirements.

GreenKey technology is fully interoperable with other systems, such as legacy turrets (meaning that tens of thousands of users will be accessible from the GreenKey network) and all standard phone systems. GreenKey can plug into existing front- and back-end frameworks. The HTML5 front-end allows easy integration with other third party applications, and firms can choose to have an on-premise installation, have it hosted in the cloud or a hybrid of the two. The firm is a neutral, independent operator of market infrastructure.

GreenKey CEO Paul Christensen said: “This is a seminal event for GreenKey, reinforcing the power of our transformative technology to provide solutions to critical issues facing global financial market participants. We are seeing a broad cross-section of the world’s leading finance organizations getting behind GreenKey and helping us design and enhance products as well as ensure our solutions are best-in-class for the industry. The goal is to make the markets safer, less expensive, more transparent and more compliant. This program will include furthering GreenKey’s progress in establishing voice protocols for quote- and trade-capture applications, which are particularly important in Europe for MiFID II compliance.”

Daniel Marcus, Global Head of Strategy and Business Development, Tradition, said: “Tradition’s focus is on ensuring that we provide our clients with multiple asset class execution excellence via any medium that is regulatory compliant. GreenKey’s cutting-edge technology that incorporates flexible, open, integrated instant message aggregation, recording and voice transcription will play a key role in enabling Tradition to satisfy our strategy on a global basis.”

David Perkins, Managing Director, Electronic Broking, Tullett Prebon, said: “Hybrid voice is at the heart of our business. The ability to transcribe voice communications into secure, recorded usable data in real time is highly beneficial. We are strongly supportive of GreenKey’s open and integrated model which helps us comply with changing regulations in the U.S., Europe and elsewhere globally.”

Christensen said demand was high to join the DPP, and GreenKey had to limit participation to those firms best positioned to work closely with its team in addressing market structure and technology issues. He said GreenKey will continue to collaborate and form partnerships with a variety of other firms representing all asset classes and roles, including buy-side, sell-side and infrastructure providers.

He said: “Response to our unique technology has been overwhelming, and we are thrilled with the recognition that it can solve significant problems for the markets, including making our clients’ communications open, integrated and compliant. By demonstrating that our cutting-edge speech recognition tools and voice-driven workflows meet the demands of the major players in the markets, we have proven that this technology is ready for mass adoption.”

Read this next

Retail FX

Cerus Markets launches MT5 with exclusive Crypto vs TradFi offering

“The introduction of MT5 is a significant milestone for Cerus Markets and our valued clients. We are constantly seeking ways to enrich our platform and empower our traders with more advanced tools and opportunities. MT5 aligns perfectly with our mission to bridge the gap between cryptocurrency and traditional financial markets.”

Fintech

Ouinex taps Netdania to build institutional-grade crypto trading platform

Ouinex intends to always bring the best of TradFi electronic trading infrastructure to Web3 including innovative universal cross-margining capabilities so that users can trade TradeFi instruments by using their crypto holdings as margin.

Retail FX

BDSwiss Elevates Traders’ Experience with Advanced Trading Tools

In the fast-paced world of financial markets, having access to advanced trading tools and educational resources is crucial for traders aiming to stay ahead of the curve.

Market News

Gold & Silver rally, made in China

Gold prices correlate with the US bond market, and the US Dollar influences the Gold/Silver ratio. Chinese market premiums for Gold and Silver suggest continued uptrends. Inflation-adjusted peaks indicate current prices are not overly expensive, implying potential for further gains.

Market News

Japan’s Monetary Policy and FX Intervention: Key Takeaways from the G20 Meeting

At the G20, BoJ President Kanda and Finance Minister Suzuki emphasized stable exchange rates and cautious FX intervention, signaling imminent action. Softer US inflation data and potential BoJ rate hikes are impacting USD/JPY

blockdag

Top 3 Cryptos of 2024: BlockDAG’s $1 Prediction, Immutable’s Remarkable Price Increase, and Solana’s Promising Future

Explore pivotal changes in the cryptocurrency market through our analysis of Solana, Immutable, and BlockDAG. Explore how BlockDAG raised $34.7M in its presale with advanced technologies.

Fintech

UK bank Kroo bans crypto transactions, warns account closure

London-based digital bank Kroo has imposed a ban on cryptocurrency transactions, another blow for crypto traders ‎who recently saw a sizable number of banks deciding not to ‎finance the wobbly asset class.‎

Web3

MoonPay onboards Gucci, Puma, and Mastercard to Web3 Tools

Blockchain payments infrastructure firm MoonPay has unveiled a new platform to simplify the Web3 experience for brands and consumers. The platform, dubbed Web3 Tools, helps brands provide a less complex Web3 journey.

blockdag

BlockDAG’s Keynote Video Drives $34.7M in Presales, Gaining Traction Among Solana (SOL) Investors and Litecoin Enthusiasts

Discover BlockDAG’s leadership in cryptocurrency, attracting Solana (SOL) investors and Litecoin enthusiasts with its strong growth prospects and groundbreaking mining technology. 

<