NICE, Cloud9 Team for Cloud-Based Compliance
NICE and Cloud9 Technologies have completed an integration of the NICE Trading Recording System (NTR) with Cloud9’s C9 Trader platform. Now, financial services organizations can leverage both companies’ solutions together to ensure compliance with regulations around recording and retaining trade communications, while also benefitting from low-cost reliable cloud-based communications. The integrated technology is already deployed and in use at a leading global investment bank.
The industry’s only ‘all-in-one’ compliance-focused trade conversation recording platform, NTR is used by most of the world’s leading banks and investment firms for recording and retaining trade conversations. In addition to working with the C9 Trader platform, NTR can also interface with other turrets, desk phones, mobile phones, and Unified Communications platforms. NTR works in tandem with NICE COMPASS, a unique compliance assurance solution that features automated provisioning, system health checks, bulk call extraction tools, transcription, compliance assurance reporting, and monitoring dashboards, to help financial institutions ensure enterprise-wide compliance with MiFID II and other regulations.
The C9 Trader platform is becoming the voice standard for the trading floor. By digitizing the entire institutional trader voice lifecycle and providing innovative, secure and compliant means of delivering the associated metadata, Cloud9 enables traders to uncover and seize the value present within their voice trading conversations. In addition, C9 Trader’s anywhere, anytime secure cloud communication platform enables banks to reduce their communications costs by up to 50% by eliminating expensive private lines and desktop hardware, easily scales up or down, and can connect traders to counterparties anywhere in the world.
Chris Wooten, Executive Vice President, NICE, said, “Cloud-based voice communications are gaining traction with banks as a viable option for trader communications. Cloud-based or not, all trade-related communications are subject to the same regulations and standards, including MiFID II, Dodd Frank, MAR and FX Code of Conduct. Our integration with C9 Trader will give financial services customers confidence in their ability to comply with all regulations around recording and retaining trader communications when using Cloud 9’s C9 cloud-based trading platform.”
Steve Kammerer, Chief Product Officer at Cloud9 Technologies, said, “We’re dedicated to working with other companies and industry groups that enable best-of-breed solutions for our clients, and we’re excited to have completed this integration with NICE. Our clients now have the ability to record and retain our high-fidelity audio using the industry-leading NICE NTR compliance recording system, which offers unprecedented scalability, ease-of-use and versatility. By extension, our clients can also take advantage of NICE’s unique compliance assurance technology.”
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