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Voice-to-text software touted as Mifid II quoting fix

Quotes given over phone can be transcribed and broadcast, claim ‘soft turret’ firms

Quotes given over phone can be transcribed and broadcast, claim ‘soft turret’ firms

By Luke Clancy for Risk.net – first published on August 26, 2016

Until a few months ago, Paul Christensen and Germán Soto Sanchez were doing similar jobs at rival banks. Today, both men are doing similar jobs at rival technology companies. Their aim is to replace a trading desk’s souped-up phone console, or turret, with cheaper, browser-based software. But it’s not just about cost. From next year, the firms plan to offer speech recognition and transcription tools that will automatically convert voice into text real time ...

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