Symphony adds 200 institutional counterparties by acquiring mapping platform StreetLinx
The combined solution brings standardization and entitlements to allow professionals to seamlessly connect with the right counterparty, person, or platform.
Symphony has acquired the counterparty mapping platform StreetLinx, which adds over 200 institutional counterparties to the more than 1000 institutions already served by the markets’ infrastructure and technology platform.
Brad Levy, Chief Executive Officer at Symphony, commented: “As we accelerate from directory to identity solutions, Streetlinx brings Symphony a full spectrum of identity-verified investment professionals, including portfolio managers, traders, research analysts, and sales teams that will enrich Symphony’s already established and active community of over half a million financial professionals. We are proud to continue to add value to our user community and the industry as a whole”.
The deal will allow Symphony to offer “the most complete and secure verified directory in the financial services industry”, as claimed by the firm, which is a key tool in markets as it increases efficiency and reduces risk across the board.
The integration between both platforms is already being deployed, enabling enhanced directory information, entitlement-based connections, and content distribution across trusted counterparties.
The combined solution brings standardization and entitlements to allow professionals to seamlessly connect with the right counterparty, person, or platform.
Gary Godshaw, Chief Executive Officer at StreetLinx, said: “We founded StreetLinx to modernize the exchange of organizational data and drive better connectivity between counterparties. While we knew the pain points well, it was really our clients who have led and shaped the solution since day one.
“Joining Symphony is a perfect fit for StreetLinx’s clients and for us as a team. Our combined offering will expand the scope of applications and increase the breadth of use cases for our users from front to back office. We are thrilled to be joining such a strong brand and culture. This deal simply formalizes what has felt like a partnership from the start.”
Symphony has recently acquired the trader voice and electronic communication company Cloud 9 Technologies as the firm aims to lead in front office communications with new services and solutions combining trader voice with natural language processing (NLP) and automation.
In July, Symphony selected Google Cloud as its primary cloud provider. The firm will be migrating its platform in the coming year.
Brad Levy, who joined the firm in 2020 as Chief Commercial Officer has quickly moved to the role of CEO and is leading Symphony in a series of partnerships, acquisitions, and strategic asset deals for the company and the industry.
His appointment at the firm came at a crucial point as it is facing strong demand for its secure and compliant collaboration integrated with automated workflows.
Mr. Levy has served as a member of board of management at numerous industry-leading financial service providers such as LoanX, BrokerTec Futures exchange, BrokerTec, Eurex US Futures Exchange, BondDesk, SecuritiesHub, CDS IndexCo, SwapsWire, Markit, and Trade Web.
Brad spent a major part of his career serving in Goldman Sachs has remained at the firm for more than 17 years. He joined the firm as an Analyst and slowly made his way up having also served as a Vice President and Managing Director before eventually moving on to IHS Markit where he served as CEO of MarkitSERV/Global Head Loans and Partner.
