Message platform Symphony offers autotunes for OTC trades

Singapore

WALL Street banks are tooling up to build a more transparent and automated process for executing over-the-counter trades, to tackle the opaque nature of such transactions valued in the trillions and that have been probed amid rigging scandals.

The startup that hopes to sit at the nexus of that seismic change is Symphony Communication Services, a messaging platform backed by investment banking giants.

The platform allows for secure and compliant messaging in the office and on-the-go among traders, and creates automated workflows for banks. Its messaging system has, in part,…