New Cloud-Based Audio Solution Will Bring Instant Voice to ICE’s Instant Messaging Platform for Traders and Professional Investors
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Insights
The announcement of ICE Voice represents a strategic enhancement in the financial technology sector, particularly in the realm of trading communications. The integration of voice and chat platforms is indicative of a broader industry trend towards unified communication systems. This trend is driven by the need for efficiency and compliance in fast-paced trading environments. The collaboration between Intercontinental Exchange and IPC Systems leverages IPC's Connexus Unigy cloud technology and ICE's extensive chat network to create a robust platform that fulfills the demand for instant and seamless communication among traders.
From a market perspective, the adoption of such technology could potentially lead to increased productivity and reduced operational risks, as traders can switch between communication modes without losing context or time. Furthermore, the emphasis on compliance features, such as full audio recording and integrated communication logs, aligns with the stringent regulatory requirements facing financial institutions. This could mitigate compliance risks and enhance the appeal of ICE's offerings to firms seeking to streamline their communication infrastructure while adhering to legal standards.
The introduction of ICE Voice also reflects a competitive move within the financial services industry to provide differentiated value through technology. As such, this could influence the market position of both ICE and IPC Systems, potentially affecting their stock performance depending on the market's reception of the new service and its subsequent impact on user engagement and client acquisition.
The strategic alliance between Intercontinental Exchange and IPC Systems to launch ICE Voice could have financial implications for both entities. By expanding their product offerings, they aim to capture a larger share of the trading communication market, which may result in increased revenue streams. The service's ability to cater to both the connectivity needs of traders and the compliance requirements of financial firms positions it as a potentially attractive investment for stakeholders looking to capitalize on the integration of communication technologies in financial services.
Moreover, the financial performance of these companies could be influenced by the operational efficiencies gained through this service. Reduced costs associated with managing separate systems for chat and voice communications could translate into improved profit margins. The market will likely monitor the user adoption rates and client feedback post-launch to assess the financial impact of this initiative on the companies' bottom lines.
It is essential to consider how this development aligns with the overall strategic direction of the companies involved and whether it signals a broader shift towards cloud-based solutions in the industry. Such a shift could have long-term financial implications, including potential changes in capital expenditure and operational cost structures.
The introduction of ICE Voice, with its integrated chat and voice logs and full audio recording capabilities, addresses key regulatory concerns in the financial industry related to record-keeping and surveillance. The ability to provide a single record of communications is not only a technological advancement but also a compliance safeguard. In the context of regulations such as the Dodd-Frank Act and MiFID II, which impose strict requirements on trade documentation and transparency, a solution like ICE Voice could become an essential tool for firms to maintain compliance.
The legal implications of adopting such a platform could be significant for financial institutions, potentially reducing the risk of non-compliance and associated penalties. The legal perspective highlights the importance of this development in mitigating legal risks and underscores the need for continuous innovation in compliance technology to keep pace with evolving regulatory landscapes.
Financial entities considering the adoption of ICE Voice must evaluate the legal and regulatory benefits alongside the technological advantages. The platform's compliance features could serve as a benchmark for industry practices and could influence future regulatory expectations for communication and record-keeping technologies.
ICE Voice over ICE Chat will leverage IPC’s global voice platform to provide always-on open voice connections
Supports single record of communications for chat and voice compliance
ICE Voice will bring together ICE Chat’s extensive network of over 120,000 active users and IPC’s Connexus Unigy private cloud platform to provide always on, persistent open connections between individuals or groups of traders across internal trading desks and with any other ICE Chat user signed up for the service. Users will be able to instantly jump from chat to voice and open calls from chat tabs and group chat rooms, and create Voice Blasts to ‘shout out’ to groups of open connections simultaneously. ICE Voice will also support full audio recording with configurable retention, anywhere, anytime playback of archived calls, and integrated chat and voice logs to create a single record of communications, aiding in trading desk or firm-wide compliance programs.
“For the first time, ICE’s users will have a single, integrated platform for chat and voice that matches both traders’ need for always-on, instantaneous connectivity with other traders, and firms’ desire for easy-to-access and use records that help them meet their record retention requirements,” said Maurisa Baumann, Head of Desktops and Feeds at ICE. “ICE Voice builds on our instant messaging service, which has become one of the largest networks in the financial industry, and utilizes IPC’s voice network for providing cloud-based audio connectivity with a single click.”
“IPC’s collaboration with ICE to develop ICE Voice brings our industry leading Connexus Unigy cloud technology together with the ICE Chat network to create a single, seamless and powerful solution for traders,” said Tim Carmody, Chief Technology Officer, IPC Systems. “This solution reinforces both IPC and ICE’s focus on continuous innovation in trading communications and connectivity, and enhancing the experience of the global trading community through greater integration and interoperability between chat, voice and electronic platforms, applications and workflows.”
ICE Voice will be seamlessly integrated into the ICE Chat platform, providing an efficient workflow for financial professionals to connect and interact as effortlessly as possible. It will combine voice connectivity with functionality that was designed specifically to match the custom needs of traders, including ICE Chat’s AI-powered Smart Text Recognition functionality, which turns texts into actionable data using APIs, and Message Blaster for sending single messages to multiple contacts.
IPC’s Trading Communications Systems support the global voice trading community through a comprehensive suite of leading-edge communications technologies and tools, underpinned by the proprietary and award-winning cloud-based Connexus Unigy platform. Trading Communications solutions include Service-as-a-Software offerings (Connexus), on-premise and mobile trading communications products and compliance and surveillance solutions, including its most recent solution, OneView Portfolio, which launched at the end of 2023.
For more information about ICE Chat, please visit: https://www.ice.com/fixed-income-data-services/access-and-delivery/desktop-web-platforms/chat.
About IPC
A specialist technology and service leader powering global financial markets for over 50 years, IPC Systems is at the forefront of electronic trading connectivity and state-of-the-art cloud communications, setting the standard for exceptional service, innovation, and expertise.
IPC’s customer-first approach is bolstered by an extensive and diverse financial ecosystem that spans all asset classes and connects market participants anywhere in the world for enhanced communication, collaboration, and compliance. Global services include electronic trading, trading communications, and infrastructure-as-a-service solutions. IPC is ideally positioned to anticipate change and remain aligned with rapidly transforming markets, and to empower customers to adapt to change, now and in the future. To learn more, visit www.ipc.com, explore our Insights page and follow us on LinkedIn.
About Intercontinental Exchange
Intercontinental Exchange, Inc. (NYSE: ICE) is a Fortune 500 company that designs, builds and operates digital networks that connect people to opportunity. We provide financial technology and data services across major asset classes helping our customers access mission-critical workflow tools that increase transparency and efficiency. ICE’s futures, equity, and options exchanges – including the New York Stock Exchange – and clearing houses help people invest, raise capital and manage risk. We offer some of the world’s largest markets to trade and clear energy and environmental products. Our fixed income, data services and execution capabilities provide information, analytics and platforms that help our customers streamline processes and capitalize on opportunities. At ICE Mortgage Technology, we are transforming
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located here. Key Information Documents for certain products covered by the EU Packaged Retail and Insurance-based Investment Products Regulation can be accessed on the relevant exchange website under the heading “Key Information Documents (KIDS).”
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 -- Statements in this press release regarding ICE's business that are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE's Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE's Annual Report on Form 10-K for the year ended December 31, 2023, as filed with the SEC on February 8, 2024.
Category: Fixed Income and Data Services
SOURCE: Intercontinental Exchange
ICE-CORP
View source version on businesswire.com: https://www.businesswire.com/news/home/20240229678988/en/
ICE Media Contact:
Damon Leavell
+1 212 323 8587
damon.leavell@ice.com
media@ice.com
ICE Investor Relations Contact:
Katia Gonzalez
+1 678 981 3882
katia.gonzalez@ice.com
investors@ice.com
IPC Media Contact
The Realization Group for IPC Systems
+44 7713 332303
Vanessa.green@therealizationgroup.com
Source: Intercontinental Exchange
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