PRESS RELEASE: NICE announced a strategic technology partnership with Speakerbus, a specialist provider of critical voice collaboration solutions for global financial markets. The two companies have developed an integration of the NICE Trading Recording system with the voice communication system from Speakerbus, allowing for calls made on the Speakerbus platform to be recorded on secure NICE recording systems.
This joint solution will also help financial institutions meet new regulations such as MiFID II, which will require that all communications (leading to transactions) be recorded and retained. Speakerbus’ clients will benefit from certified compatibility with NICE’s range of voice recording solutions.
Patrick McCullough, CEO of Speakerbus said, “Our clients demand tighter integration across trading desk systems for increased operational efficiency and cost reduction. There is great synergy between Speakerbus and NICE. Speakerbus has a long-standing track record of delivering world-class critical voice collaboration solutions to leading financial institutions, while NICE is a leader in voice recording analytics. We already have a number of joint tier-1 bank clients, and this integrated solution will deliver a holistic view of voice recording across the enterprise. We look forward to pursing more opportunities together to help clients meet regulatory obligations.”
The NICE Trading Recording (NTR) platform can receive collated voice call information from any Speakerbus endpoint deployed across the enterprise, through Speakerbus’ iManager Call Detail Service, which concentrates and shares these numerous streams. The combined solution securely integrates communication processes and recordings, to help trading floors more effectively comply with regulations and quickly resolve disputes.
Cromwell Fraser, VP, Communication Compliance, NICE, said: “We’re delighted to include Speakerbus in our strategic technology partnership programme, to deliver secure, streamlined voice trading communications and recording solutions. NICE is committed to enabling financial institutions to prove that their traders’ calls are recorded, securely stored and archived in accordance with the latest regulatory requirements, as failure to do so will lead to substantial fines. Our extensive experience and domain expertise in compliance recording and surveillance meets the needs of trading floors of all sizes.”
With a client base across capital markets, commodities, hedge funds and brokerage sectors, Speakerbus delivers innovative trader voice capabilities with a range of cost-effective, high-performance, physical and virtual endpoints (the iSeries), which are compliant, self-manageable, maximise investment in existing infrastructure and reduce private line leasing costs.