For years people have been predicting the demise of voice broking, but to a great extent what has happened is smaller voice broker desks are doing the same amount of work. This calls for more efficiency and a creative use of technology, according to Nader Shwayhat, the CEO of Green Key Technologies.
Since the company began, GreenKey has focused on combining voice and data, and in 2017 they plan to start extracting data within voice conversations and integrating it into customers’ screens.
For the most part, Shwayhat said, only about 10 percent of the information from voice conversations ever makes it onto a screen or a SEF or a trading platform.
“Our hope is to flip that around and we can actually translate 90 percent of what they are just ripping on the phone calls and bring that onto an electronic platform,” he said.
Looking ahead to the coming year, Shwayhat said Greenkey has been redeveloped to be API focused and is developing a “cloud of clouds” that would move the processing from the front end into the cloud.
Part of the company’s vision for the future is being able to talk to the computer – or in this case, to the computer trading system – the way people might talk to a robot in Star Trek or the new Iron Man movies, he said. That would enable people to “just hit a key word and execute a million dollar trade or hit a key word and extract a certain piece of data.”
More and more large enterprises are embracing the cloud and hosted technology and are willing to let go of some of the control and look at that tech as a service rather than a capital expenditure, Shwayhat said.
“That said, they’re still very hesitant,” he added. “There is still a lot of security and network and behavioral inertia that is difficult to overcome.”