Cloud9 partners with SteelEye for managing voice trade data obligations

By Pavithra R

Cloud9 Technologies, a cloud based communication solution for the financial markets has announced that the firm 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.

The demand for ‘virtual trading floors’ are soaring up amongst financial institutions. The integration of Cloud9 into SteelEye is expected to enhance the firms’ interoperability and simplify their record-keeping, trade surveillance and regulatory reporting obligations.

“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. We’re excited to be partnering with a trusted solution like SteelEye during such a transformational period in the market,” said Brian Hunt, Chief Administrative Officer and Head of Partnerships at Cloud9.

Through the partnership, firms can capture their Cloud9 voice trade data within SteelEye alleviating the complexities and costs of regulatory compliance as firms shifts towards long-term work-from-home policies. The combination of Cloud9’s voice capture capabilities and SteelEye’s intelligent compliance and data platform is expected to empower firms to seamlessly overlay their regulatory and financial data with their voice communications to facilitate effortless compliance and identify market abuse risks including insider trading. The combination also addresses key regulatory mandates including MiFID II, EMIR, Dodd-Frank, SMCR and MAR.

“In this highly competitive financial landscape, it’s imperative that firms can quickly respond to changing market structures and regulatory demands. 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,” said Helen Bevis, Head of Operations and Strategic Partnerships at SteelEye.

Founded in 2014, Cloud9 is a voice communication and analytics platform for the financial markets to renovate the way traders communicate.  Recently, the firm secured $17.5 mn in Series B funding round led by UBS.